We're sorry but this page doesn't work properly without JavaScript enabled. Please enable it to continue.
Feedback

Secondary Market for Demand Uncertainty

Formale Metadaten

Titel
Secondary Market for Demand Uncertainty
Alternativer Titel
Secondary Market to Mitigate Demand Uncertainty
Serientitel
Anzahl der Teile
21
Autor
Mitwirkende
Lizenz
CC-Namensnennung - keine kommerzielle Nutzung - keine Bearbeitung 4.0 International:
Sie dürfen das Werk bzw. den Inhalt in unveränderter Form zu jedem legalen und nicht-kommerziellen Zweck nutzen, vervielfältigen, verbreiten und öffentlich zugänglich machen, sofern Sie den Namen des Autors/Rechteinhabers in der von ihm festgelegten Weise nennen.
Identifikatoren
Herausgeber
Erscheinungsjahr
Sprache

Inhaltliche Metadaten

Fachgebiet
Genre
Abstract
In this talk we consider a centralized resource manager whose aim is to regulate multiple paticipants where the participatnts' goals are to purchase resource so as to satisfy uncertain demands. A secondary market mechanism is introduced to mitigate the conservativeness toward demand uncertainty. We analyze the clearing price of the secondary market, show that a unique Nash equlibrium exists in the many player limit and the NE takes the form of a threshold strategy. Moreover, we show that both the social welfare loss and the deviation of the total ordering from the optimum is of O(\sqrt{n}) where n is the number of players. This is significantly better compared with the case of no secondary market, where the social welfare loss and the deviation of the total order are both O(n).