Market equilibrium based resource optimal allocation for manufacturing grid

Manufacturing Grid resource marketplace was established in which resources were configured based on. market equilibrium theory and resource consumers' preferences. Firstly, an economic resource allocation architecture was constructed based on the total framework of manufacturing grid. Secondly, the economic environment of resource allocation was defined based on the characteristics of marketplace competitiveness, in which the feasible and Pareto optimization conditions of resource allocation were given. The competitive equilibrium of Pareto optimization was defined to realize profit maximization for resource providers and efficiency maximization for resource users under balanced market resources. Finally, an iterative algorithm was introduced for the resource equilibrium price. The test results indicated that a resource price could be converged at its equilibrium price rapidly, and actual resources allocation result could be approximate to equilibrium state.