Abstract: A technique for the allocation and pricing of a resource among n buying agents during an auction bid. A bid sent by each buying agent in the form of a resource demand function si(p) is received, and a datum corresponding to the equilibrium price p* is calculated from the sum S of the n demand functions si(p), by means of the relation: S(p*)=Q. All of the bids received during a predetermined period corresponding to a round of bidding are processed in order to determine the quantity of a resource to be allocated to each buying agent. This is followed by the calculation of the data corresponding to the quantity ai to be allocated for this equilibrium price p* to each buying agent i based on its demand function si such that ai=si(p*). The management system utilizes the calculated data to allocate the corresponding quantities of the resource, and this data is stored in order to calculate the price to be billed to each buying agent.

Abstract: A technique for the allocation and pricing of a resource among n buying agents during an auction bid. A bid sent by each buying agent in the form of a resource demand function si(p) is received, and a datum corresponding to the equilibrium price p* is calculated from the sum S of the n demand functions si(p), by means of the relation: S(p*)=Q. All of the bids received during a predetermined period corresponding to a round of bidding are processed in order to determine the quantity of a resource to be allocated to each buying agent. This is followed by the calculation of the data corresponding to the quantity ai to be allocated for this equilibrium price p* to each buying agent i based on its demand function si such that ai=si(p*). The management system utilizes the calculated data to allocate the corresponding quantities of the resource, and this data is stored in order to calculate the price to be billed to each buying agent.

Abstract: A technique for the allocation and pricing of a resource among n buying agents during an auction bid. A bid sent by each buying agent in the form of a resource demand function si(p) is received, and a datum corresponding to the equilibrium price p* is calculated from the sum S of the n demand functions si(p), by means of the relation: S(p*)=Q. All of the bids received during a predetermined period corresponding to a round of bidding are processed in order to determine the quantity of a resource to be allocated to each buying agent. This is followed by the calculation of the data corresponding to the quantity ai to be allocated for this equilibrium price p* to each buying agent i based on its demand function si such that ai=si(p*). The management system utilizes the calculated data to allocate the corresponding quantities of the resource, and this data is stored in order to calculate the price to be billed to each buying agent.

Abstract: A technique for the allocation and pricing of a resource among n buying agents during an auction bid. A bid sent by each buying agent in the form of a resource demand function si(p) is received, and a datum corresponding to the equilibrium price p* is calculated from the sum S of the n demand functions si(p), by means of the relation: S(p*)=Q. All of the bids received during a predetermined period corresponding to a round of bidding are processed in order to determine the quantity of a resource to be allocated to each buying agent. This is followed by the calculation of the data corresponding to the quantity ai to be allocated for this equilibrium price p* to each buying agent i based on its demand function si such that ai=si(p*). The management system utilizes the calculated data to allocate the corresponding quantities of the resource, and this data is stored in order to calculate the price to be billed to each buying agent.