A new approach for optimal control using market-based algorithms

peer reviewedA new method for distributed resource allocation is called market{based control. Market{based control systems im- itate the behavior of an economic system; some applica- tions of this method exist in the eld of distributed com- puter and telecommunications systems. A new eld of application is the control of dynamic systems. In this work, the market{based approach is used for optimal con- trol which is still one of the important methods of control theory. Unfortunately, even though most researchers in this area deal with complex systems, they omit the math- ematical background. For this reason, our work focuses on a mathematical description of a market{based control algorithm especially for linear dynamic systems in order to explain the relationship between economic and control systems. It is shown that the optimal control problem can be considered as a special kind of a resource distribution problem. Therefore, the fact that in economic systems re- sources are optimally distributed in a decentralized man- ner even in large and complex systems is very interesting. The obtained algorithm in the case of a linear system is characterized by a very e ective computation and easy understanding