Allocating Scarce Resources: Auction
The allocation of scarce resources, such as physical objects or computing resources, among multiple agents is a crucial aspect of multi-agent systems. When resources are abundant or uncontested, allocation is straightforward. However, in reality, we often face scarcity and competition, which is where auction mechanisms come into play. Once considered rare, auctions have become a common method for resource allocation in various domains. We will cover the auction mechanism in Lecture 9 in the SC4003 course at NTU. Get ready!



