Distributed Algorithms for Internet-of-Things enabled Prosumer Markets: A Control Theoretic Perspective
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We develop a distributed control algorithm for prosumer based sharing economy that achieves optimal values asymptotically. Prosumers are the agents that produce as well as consume a resource. The proposed algorithm does not require any explicit exchange of information between individual prosumers for reasons of privacy. Prosumers communicate with the infrastructure in a limited fashion and they take only binary decisions to produce or consume a resource. The proposed algorithm is suitable to implement in an Internet-of-Things context with minimal demands on infrastructure. We describe two use cases; car sharing and collaborative energy storage. We also present simulation results to check the efficacy of the algorithm.
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