%0 Journal Article %1 Brewer99 %A Brewer, Paul J. %D 1999 %J Economic Theory %K imported %N 1 %P 41-92 %T Decentralized Computation Procurement and Computational Robustness in a Smart Market %V 13 %X This paper explores the use of a computational procuring clock auction to induce human agents to approximate the solutions to discrete constrained optimization problems. Economic and computational properties of the auction are studied through a series of laboratory experiments. The experiments are designed around potental application of the auction as a secondary institution that approximates the solution to difficult computational problems that occur within the primary 'smart market,' and show that the auction is effective and robust in eliciting and processing suggestions for improved schedules.

@article{Brewer99, abstract = {This paper explores the use of a computational procuring clock auction to induce human agents to approximate the solutions to discrete constrained optimization problems. Economic and computational properties of the auction are studied through a series of laboratory experiments. The experiments are designed around potental application of the auction as a secondary institution that approximates the solution to difficult computational problems that occur within the primary 'smart market,' and show that the auction is effective and robust in eliciting and processing suggestions for improved schedules.}, added-at = {2006-09-13T17:44:28.000+0200}, author = {Brewer, Paul J.}, biburl = {https://www.bibsonomy.org/bibtex/2a0285394bfc3c84af9d022b8e9101b77/jmm}, description = {JMM master bibtex}, interhash = {4c110d84a640aea094482d0b716c28c0}, intrahash = {a0285394bfc3c84af9d022b8e9101b77}, jmm_note = {289}, journal = {Economic Theory}, keywords = {imported}, number = 1, pages = {41-92}, timestamp = {2006-09-13T17:44:28.000+0200}, title = {Decentralized Computation Procurement and Computational Robustness in a Smart Market}, volume = 13, year = 1999 }