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A Study on Pareto Optimality of Walrasian Virtual Market

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Book cover Agent-Based Simulation: From Modeling Methodologies to Real-World Applications

Part of the book series: Agent-Based Social Systems ((ABSS,volume 1))

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Summary

Conventional supply chain management (SCM) is not always concerned with optimal solutions in terms of product allocation. Virtual market based supply chain operation solves the product allocation problem by distributing the scheduled resources according to the market prices, which define common scale of value across the various products. We formulate supply chain model as a discrete resource allocation problem, and demonstrate the applicability of the Walrasian virtual market concept with multi-agent paradigm to this framework. In this paper we demonstrate the proposed algorithm successfully calculates Pareto optimal solutions in the supply chain product allocation problem by comparing our method with conventional analytic approaches, such as ε constraint method and fixed point algorithm.

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References

  1. Wellman M. P., A Market-Oriented Programming Environment and its Application to Distributed Multi-commodity Flow Problems, ICMAS-96, 1996, pp385–392.

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Author information

Authors and Affiliations

  1. Department of Computer and Systems Engineering, Kobe University, 1-1, Rokkodai, Nada, Kobe, 657-8501, Japan

    Toshiya Kaihara & Susumu Fujii

Authors
  1. Toshiya Kaihara
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  2. Susumu Fujii
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Editor information

Editors and Affiliations

  1. Interdisciplinary Graduate School of Science and Engineering, Tokyo Institute of Technology, 4259 Nagatsuta-cho, Midori-ku, Yokohama, 226-8502, Japan

    Takao Terano Ph.D. (Professor) & Hiroshi Deguchi Ph.D. (Professor) (Professor) &  (Professor)

  2. Academic Center for Computing and Media Studies, Kyoto University, Yoshida-Nihonmatsu-cho, Sakyo-ku, Kyoto, 606-8501, Japan

    Hajime Kita Dr. Eng. (Professor) (Professor)

  3. Graduate School of Engineering, Nagoya Institute of Technology, Gokiso, Showa-ku, Nagoya, 466-8555, Japan

    Toshiyuki Kaneda Dr.Eng. (Associate Professor) (Associate Professor)

  4. Faculty of Social Systems Science, Chiba Institute of Technology, 2-17-1 Tsudanuma, Narashino, Chiba, 275-0016, Japan

    Kiyoshi Arai Dr. Eng. (Professor) (Professor)

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© 2005 Springer-Verlag Tokyo

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Kaihara, T., Fujii, S. (2005). A Study on Pareto Optimality of Walrasian Virtual Market. In: Terano, T., Kita, H., Kaneda, T., Arai, K., Deguchi, H. (eds) Agent-Based Simulation: From Modeling Methodologies to Real-World Applications. Agent-Based Social Systems, vol 1. Springer, Tokyo. https://doi.org/10.1007/4-431-26925-8_18

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