A dynamical model of a GRID market

We discuss potential market mechanisms for the GRID. A complete dynamical model of a GRID market is defined with three types of agents. Providers, middlemen and users exchange universal GRID computing units (GCUs) at varying prices. Providers and middlemen have strategies aimed at maximizing profit while users are 'satisficing' agents, and only change their behavior if the service they receive is sufficiently poor or overpriced. Preliminary results from a multi-agent numerical simulation of the market model shows that the distribution of price changes has a power law tail.

• Type: Journal
• Year: 2004
• Where: CORR
• Authors: Uli Harder, Peter G. Harrison, Maya Paczuski, Tejas Shah
• Keywords: Complete Dynamical Model, CORR 2004, Education, Grid, Potential Market Mechanisms