Parimal Parag from IISc Bangalore will talk about "The Power of Two in Large Service-Marketplaces”. The details of the seminar are in the attached. 

Title: The Power of Two in Large Service-Marketplaces

Abstract: We consider a large-scale service marketplace with numerous servers that scale with the job arrival rate. Jobs arrive with private valuations representing their willingness to pay. In a centralized system, jobs are matched to available servers, and prices are set in a centralized manner to maximize revenue. We investigate whether similar scalability can be achieved in a distributed marketplace where jobs are randomly matched to servers, which set their own prices based on job valuations and system occupancy. We then examine matching jobs to two servers, which compete to provide service if unoccupied. We demonstrate the existence and convergence to a mean field equilibrium (MFE) in this setup, where servers strategically respond to competitors’ prices. 

Tuesday – February 25, 2025 | 3:00pm |GRIS – Room 103

Kendra Hodges | Associate Operations Administrator

Elmore Family School of Electrical and Computer Engineering

Purdue University

Materials and Electrical Engineering Building

501 Northwestern Avenue, Suite 150K

West Lafayette, Indiana 47907

Phone: 765-494-3481

Email: khodges@purdue.edu