ICES: Large: Collaborative Research: Markets - Algorithms, Applications and the Digital Economy

ICES：大型：协作研究：市场 - 算法、应用和数字经济

• 批准号: 1216024
• 负责人: John Ledyard
• 金额: $ 10万
• 依托单位: California Institute of Technology
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2012
• 资助国家: 美国
• 起止时间: 2012-08-01 至 2016-07-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=1216024&HistoricalAwards=false
• 关键词: ICES; Large; Collaborative; Research; Markets

Extensive work over the last decade, done within theoretical computer science, has provided deep insights into the computability of market equilibria for various market models and utility functions, using the powerful tools of the modern theories of algorithmic design and algorithmic complexity. This follows up on a century-long work, within mathematical economics, on obtaining a mechanism that converges to equilibrium -- a goal that had to be eventually abandoned due to certain negative results on efficient computability of the equilibrium. The work in TCS was motivated in part by applications to markets on the Internet. The current project will extend this work along several exciting directions. Recent work of the lead Principle Investigator (PI) on using complementary pivot algorithms, for obtaining usable algorithms for certain market models that are unlikely to have efficient algorithms in the usual sense of polynomial worst-case running time, opens up the possibility of extending this approach to broader classes of markets, in particular, markets with production. A major new challenge is to address dynamically evolving markets. In terms of applications of markets, the team brings to this project a wealth of experience on electricity markets, gained from work done with researchers in computer science and control dynamics. The PIs plan on bringing their expertise in mechanism design to bear on the problems of integrating renewable energy sources into the smart grid and providing better approaches to the pricing and allocation of ancillary services to guarantee reliability and stability. Another new challenge is to extend general equilibrium theory, the undisputed crown jewel of mathematical economics, to the digital economy. The traditional notion of equilibrium is not applicable to digital goods -- once produced, an unbounded number of copies of such goods are available. The digital realm is very rich and is increasingly occupying a larger share of our economy. It is imperative, therefore, to achieve the same depth of understanding of pricing for digital goods as was obtained for conventional goods. This project will provide algorithms and insights into the computational aspects of markets, including electricity markets and transactions on the Internet, thereby helping make their operation more efficient. Hence, it is expected to contribute to advances in science and engineering, as well as to promote economic prosperity.

过去十年，在理论计算机科学领域所做的大量工作，利用现代算法设计和算法复杂性理论的强大工具，为各种市场模型和效用函数的市场均衡的可计算性提供了深入的见解。这是数理经济学中长达一个世纪的工作的后续，旨在获得一种收敛于均衡的机制——由于均衡的有效可计算性存在某些负面结果，这一目标最终不得不被放弃。 TCS 的工作部分是受到互联网市场应用的推动。 当前的项目将沿着几个令人兴奋的方向扩展这项工作。首席研究员 (PI) 最近的工作是使用互补主元算法，以获得某些市场模型的可用算法，这些模型不太可能在多项式最坏情况运行时间的通常意义上具有有效的算法，这为扩展此算法提供了可能性。进入更广泛的市场类别，特别是生产市场。 一个重大的新挑战是应对动态变化的市场。 在市场应用方面，该团队为该项目带来了与计算机科学和控制动力学研究人员合作获得的丰富的电力市场经验。 PI计划利用其在机制设计方面的专业知识来解决可再生能源并入智能电网的问题，并为辅助服务的定价和分配提供更好的方法，以保证可靠性和稳定性。另一个新的挑战是将一般均衡理论（数理经济学无可争议的皇冠上的明珠）扩展到数字经济。传统的均衡概念不适用于数字产品——一旦生产出来，此类产品就会有无限数量的副本。数字领域非常丰富，并且在我们的经济中所占的份额越来越大。因此，必须对数字商品的定价有与传统商品相同的理解深度。 该项目将为市场的计算方面提供算法和见解，包括电力市场和互联网交易，从而帮助提高其运营效率。因此，它有望促进科学和工程的进步，并促进经济繁荣。