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Multiagent Workflow Enactment Using Adaptive Pricing Mechanisms

We study the problem of distributed workflow enactment in which new job requests, each composed of a workflow, a deadline, and a payment, arrive at a company at regular intervals. The company must decide which services to perform in which workflows and with which service agents. It must also provide the proper monetary incentives to its selfish service agents so as to align their interests with those of the company. In this scenario we evaluate various pricing strategies and show that an adaptive pricing mechanism is required because it is a dominant strategy and it increases revenue.