A system and method for latency assignment in a system having shared resources for performing jobs including computing a new resource price at each resource based on latencies in a previous iteration. The new resource price is sent to a task controller that has at least one subtask running at the resource. Each subtask has an initial deadline. New deadlines for the subtasks in a task are determined based on the new resource prices at the task controller. The new deadlines are sent to the resources where at least one subtask in the task is running to improve system performance.