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Type | Conference or Workshop Paper |
Scope | Discipline-based scholarship |
Published in Proceedings | Yes |
Title | Market Design and Analysis for a P2P Backup System |
Organization Unit |
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Authors |
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Presentation Type | paper |
Item Subtype | Original Work |
Refereed | Yes |
Status | Published in final form |
Language |
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Event Title | Proceedings of the ACM Conference on Electronic Commerence (EC) |
Event Type | conference |
Event Location | Cambridge, MA |
Event Start Date | June 7 - 2010 |
Event End Date | June 11 - 2010 |
Place of Publication | Cambridge, MA |
Abstract Text | In this paper we take the problem of a market-based P2P backup application and carry it through market design, to implementation, to theoretical and experimental analysis. While the long-term goal is an open market using real money, here we consider a system where monetary transfers are pro- hibited. We ¯rst describe the design of the P2P resource ex- change market and the UI we developed. Second, we prove theorems on equilibrium existence and uniqueness. Third, we prove a surprising impossibility result regarding the lim- ited controllability of the equilibrium and show how to ad- dress this. Fourth, we present a price update algorithm that uses daily supply and demand information to move prices towards the equilibrium and we provide a theoretical and experimental convergence analysis. The market design de- scribed in this paper is already implemented as part of a Microsoft research project on P2P backup systems and an alpha version of the software has been successfully tested. |
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