Mechanism Design for the Reliable Distribution of Resources

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Title
Mechanism Design for the Reliable Distribution of Resources

CoPED ID
38ee9d22-3c34-44b9-8759-af6fe25d5c96

Status
Closed

Funders

Value
No funds listed.

Start Date
Sept. 30, 2017

End Date
Dec. 31, 2020

Description

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The world is becoming more and more technology driven, with more reliance and dependence on computers by all age groups. Increased computation allows different service providers the opportunity for better resource allocation for their clients whilst simultaneously enabling clients to better adjust variable factors to suit their lifestyle or needs. Areas of application include the smart grid which allows more fine grained control over electricity distribution including local energy exchanges as well as electric vehicle charging; and the allocation and pricing of parking spaces. Despite their differences in service and circumstance, these problems exhibit similar challenges with optimal resource distribution. In this project, we will apply mechanism design and find mechanisms that allow efficient allocation of resources whilst taking into account the rational behaviour of participants as well as other potential uncertainties. Hence, we aim to improve system usage and efficacy by designing algorithms that not only ensure good distribution of resources, but also work robustly under uncertainty and guarantee that all users can confidently utilise the system without the risk of selfish behaviour costing their use of the system.

Jie Zhang SUPER_PER
Jan Burmann STUDENT_PER

Subjects by relevance
  1. Resources
  2. Distribution of electricity
  3. Uncertainty
  4. Efficacy
  5. Costs
  6. Electrical power networks
  7. Algorithms
  8. Use

Extracted key phrases
  1. Well resource allocation
  2. Mechanism Design
  3. Optimal resource distribution
  4. Reliable distribution
  5. Electricity distribution
  6. Good distribution
  7. Efficient allocation
  8. Different service provider
  9. Fine grained control
  10. System usage
  11. Electric vehicle charging
  12. Local energy exchange
  13. Selfish behaviour
  14. Rational behaviour
  15. Potential uncertainty

Related Pages

UKRI project entry

UK Project Locations