Market-Based Approaches to Optimization

Abstract. We present a general discussion of what constitutes a marketoriented approach to optimization. We demonstrate how a general framework can be used to conceptually improve two well-known approaches from the literature, and discuss computational properties of the different approaches. We also show how existing theory could be adjusted to be directly applicable to the theory of the two approaches, thus proving special theory unnecessary. We want to bring out the pedagogical aspects of markets mechanisms, in order to take full advantage of its potential.

• Type: Journal
• Year: 2007
• Where: CI
• Authors: Maria Karlsson, Fredrik Ygge, Arne Andersson
• Keywords: CI 2007, General Discussion, Marketoriented Approach, Well-known Approaches