Download PDF by Martin Chapman, Gareth Tyson, Katie Atkinson (auth.), Esther: Agent-Mediated Electronic Commerce. Designing Trading

By Martin Chapman, Gareth Tyson, Katie Atkinson (auth.), Esther David, Christopher Kiekintveld, Valentin Robu, Onn Shehory, Sebastian Stein (eds.)

ISBN-10: 364240863X

ISBN-13: 9783642408632

This quantity includes eleven completely refereed and revised papers detailing contemporary advances in study on designing buying and selling brokers and mechanisms for agent-mediated e-commerce. They have been initially offered on the Joint Workshop on buying and selling Agent layout and research (TADA 2012) and Agent-Mediated digital trade (AMEC 2012) co-located with AAMAS 2012 in Valencia, Spain, in June 2012.

The expanding reliance on software program brokers has created a number urgent new examine demanding situations, together with the layout of applicable agent selection algorithms, methods for predicting the advanced behaviors and interactions of a number of brokers, together with the computation of equilibria, and the engineering of protocols and mechanisms that ascertain digital markets behave in a strong demeanour or satisfy different fascinating standards. Drawing upon a various variety of medical disciplines, together with desktop technological know-how, economics, man made intelligence, operations study and online game idea, the papers accrued during this quantity characterize a cross-section of modern examine and canopy issues equivalent to ideas for person buying and selling brokers, the layout of markets and interplay protocols among brokers, and a number of applications.

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Extra resources for Agent-Mediated Electronic Commerce. Designing Trading Strategies and Mechanisms for Electronic Markets: AMEC and TADA 2012, Valencia, Spain, June 4th, 2012, Revised Selected Papers

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Keywords: trading agents, auctions, simulation. 1 Introduction In many real-world economic markets, goods and services are sold through simultaneous and/or sequential auctions to bidders with complex valuation functions and incomplete information about competing bidders. Such domains include online ad auctions, spectrum auctions, eBay, the Dutch flower auctions, the New York Stock Exchange, and entertainment spaces like Fantasy Football. While auction theory can sometimes provide equilibrium solutions, this theory does not always map directly into practice.

A ZI agent actually submits offers randomly, either freely (ZI Unconstrained – ZI-U ) or within limit values (ZI Constrained – ZI-C ). Though ZI may seem as a deprecated strategy, its contribution is substantial in the design of more advanced strategies, since it provides a benchmark against random guessing. The KAPLAN strategy [10], is a “sniping” strategy, in the sense that the agent makes a move towards the end of the current trading period. Although such a simple strategy has had success in the Santa Fe DAs tournament[4], the KAPLAN strategy cannot be applied to competitions like Power TAC, which do not reveal the duration of the rounds.

The RFQ related features are: 1) current date (CD) 2) due date (DD) 3) reserve price (RP) 4) quantity (QNT) and 5) product base price (BP). On the other hand, market related features are: 6) 5-day average maximum selling product price (AMAX) 7) 5-day average minimum selling product price (AMIN) and 8) total quantity of customer requested products (TQNT). Finally we have, 9) offer price (OP). The target variable is whether the offer at the specific price, denoted by the ninth feature, was accepted (1) or not (0).

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Agent-Mediated Electronic Commerce. Designing Trading Strategies and Mechanisms for Electronic Markets: AMEC and TADA 2012, Valencia, Spain, June 4th, 2012, Revised Selected Papers by Martin Chapman, Gareth Tyson, Katie Atkinson (auth.), Esther David, Christopher Kiekintveld, Valentin Robu, Onn Shehory, Sebastian Stein (eds.)


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