Download or read book Analysis of First Price Sealed Bidding FPSB Using Game Theory written by Suat Tozendemir and published by . This book was released on 1997-12-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis analyzes the First Price Sealed Bidding (FPSB) procurement method using computer simulations. The First Price Sealed Bidding is a static Bayesian Game with incomplete information. These games have a well defined Bayesian Nash equilibrium. Using this theory, this study found the bidders' equilibrium strategies. The equilibrium strategy is the strategy that maximizes bidders' profit simultaneously. Some assumptions have been made to be able to construct a model for the FPSB. Then, the model was transformed into computer simulation code using Visual Basic programming language. Two different simulation programs used to experiment with several scenarios under uniform and triangular production cost distributions. The simulation showed the bidders' behavior and identified factors affecting the bidders' decision while preparing their bids. The most influential factors found to be production cost distributions and number of bidders. Concluding observations concerning both buyers and bidders present the results derived from the analysis of experiments.
Download or read book Game Theory with Applications in Operations Management written by R. K. Amit and published by Springer Nature. This book was released on with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trading Agents written by Michael Thomaz and published by Springer Nature. This book was released on 2022-05-31 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Automated trading in electronic markets is one of the most common and consequential applications of autonomous software agents. Design of effective trading strategies requires thorough understanding of how market mechanisms operate, and appreciation of strategic issues that commonly manifest in trading scenarios. Drawing on research in auction theory and artificial intelligence, this book presents core principles of strategic reasoning that apply to market situations. The author illustrates trading strategy choices through examples of concrete market environments, such as eBay, as well as abstract market models defined by configurations of auctions and traders. Techniques for addressing these choices constitute essential building blocks for the design of trading strategies for rich market applications. The lecture assumes no prior background in game theory or auction theory, or artificial intelligence. Table of Contents: Introduction / Example: Bidding on eBay / Auction Fundamentals / Continuous Double Auctions / Interdependent Markets / Conclusion
Download or read book Trading Agents written by Michael P. Wellman and published by Morgan & Claypool Publishers. This book was released on 2011 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Automated trading in electronic markets is one of the most common and consequential applications of autonomous software agents. Design of effective trading strategies requires thorough understanding of how market mechanisms operate, and appreciation of strategic issues that commonly manifest in trading scenarios. Drawing on research in auction theory and artificial intelligence, this book presents core principles of strategic reasoning that apply to market situations. The author illustrates trading strategy choices through examples of concrete market environments, such as eBay, as well as abstract market models defined by configurations of auctions and traders. Techniques for addressing these choices constitute essential building blocks for the design of trading strategies for rich market applications.The lecture assumes no prior background in game theory or auction theory, or artificial intelligence.Table of Contents: Introduction / Example: Bidding on eBay / Auction Fundamentals / Continuous Double Auctions / Interdependent Markets / Conclusion
Download or read book Artificial Intelligence Research and Development written by M. Polit and published by IOS Press. This book was released on 2006-10-11 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Artificial Intelligence (AI) forms an essential branch of computer science. The field covered by AI is multiform and gathers subjects as various as the engineering of knowledge, the automatic treatment of the language, the training, to quote only some of them. The history of AI knew various periods of evolution passing from periods of doubt at very fertile periods. AI is now in its maturity and did not remain an isolated field of computer science, but approached various fields like statistics, data analysis, linguistics and cognitive psychology or databases. AI is focused on providing solutions to real life problems and is used now in routine in medicine, economics, military or strategy game. This book focuses on subjects including: Machine Learning, Reasoning, Neural Networks, Computer Vision, Planning and Robotics and Multiagent Systems. All the papers collected in this volume would be of interest to any computer scientist or engineer interested in AI.
Download or read book The Handbook of Experimental Economics Volume 2 written by John H. Kagel and published by Princeton University Press. This book was released on 2016-09-20 with total page 771 pages. Available in PDF, EPUB and Kindle. Book excerpt: An indispensable survey of new developments and results in experimental economics When The Handbook of Experimental Economics first came out in 1995, the notion of economists conducting lab experiments to generate data was relatively new. Since then, the field has exploded. This second volume of the Handbook covers some of the most exciting new growth areas in experimental economics, presents the latest results and experimental methods, and identifies promising new directions for future research. Featuring contributions by leading practitioners, the Handbook describes experiments in macroeconomics, charitable giving, neuroeconomics, other-regarding preferences, market design, political economy, subject population effects, gender effects, auctions, and learning and the economics of small decisions. Contributors focus on key developments and report on experiments, highlighting the dialogue between experimenters and theorists. While most of the experiments consist of laboratory studies, the book also includes several chapters that report extensively on field experiments related to the subject area studied. Covers exciting new growth areas in experimental economics Features contributions by leading experts Describes experiments in macroeconomics, charitable giving, neuroeconomics, market design, political economy, gender effects, auctions, and more Highlights the dialogue by experimenters with theorists and each other Includes several chapters covering field experiments related to the subject area studied
Download or read book Generating Trading Agent Strategies written by Daniel M. Reeves and published by . This book was released on 2005 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Proceedings written by and published by . This book was released on 2005 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: Also available in 4 volume print edition.
Download or read book Auctions written by Paul Klemperer and published by Princeton University Press. This book was released on 2004-03-28 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governments use them to sell everything from oilfields to pollution permits, and to privatize companies; consumers rely on them to buy baseball tickets and hotel rooms, and economic theorists employ them to explain booms and busts. Auctions make up many of the world's most important markets; and this book describes how auction theory has also become an invaluable tool for understanding economics. Auctions: Theory and Practice provides a non-technical introduction to auction theory, and emphasises its practical application. Although there are many extremely successful auction markets, there have also been some notable fiascos, and Klemperer provides many examples. He discusses the successes and failures of the one-hundred-billion dollar "third-generation" mobile-phone license auctions; he, jointly with Ken Binmore, designed the first of these. Klemperer also demonstrates the surprising power of auction theory to explain seemingly unconnected issues such as the intensity of different forms of industrial competition, the costs of litigation, and even stock trading 'frenzies' and financial crashes. Engagingly written, the book makes the subject exciting not only to economics students but to anyone interested in auctions and their role in economics.
Download or read book Putting Auction Theory to Work written by Paul Milgrom and published by Cambridge University Press. This book was released on 2004-01-12 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.
Download or read book Agent Technology For E Commerce written by Maria Fasli and published by Wiley. This book was released on 2007-02-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agents are computational systems that are capable of autonomous, reactive and proactive behaviour, and are also able to interact with each other. The application of agents in e-Commerce is one of the fastest-growing and most exciting areas of computer science. This emerging technology is enabling individuals and businesses to take advantage of the new and powerful medium of the World Wide Web. Agent Technology for e-Commerce introduces the main theory behind and the applications of agent technology in e-Commerce in a way that is accessible to students with a basic background in computer science. Bringing together economics, game theory and multi-agent systems in a clear and accessible way, this book offers an introduction to agent technology and architectures, as well as providing more in-depth coverage of subjects such as negotiation, auctions, bargaining, voting protocols and coalition formation. Mobile agents and issues of trust and security are also addressed. Containing exercises and topics for discussion, this book is ideal for classroom use or self-study, and will be of considerable interest to computing and IT professionals who wish explore the fast-moving discipline of agent technology for e-Commerce.
Download or read book Experimental Auctions written by Jayson L. Lusk and published by Cambridge University Press. This book was released on 2007-11-08 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists, psychologists, and marketers are interested in determining the monetary value people place on non-market goods for a variety of reasons: to carry out cost-benefit analysis, to determine the welfare effects of technological innovation or public policy, to forecast new product success, and to understand individual and consumer behavior. Unfortunately, many currently available techniques for eliciting individuals' values suffer from a serious problem in that they involve asking individuals hypothetical questions about intended behavior. Experimental auctions circumvent this problem because they involve individuals exchanging real money for real goods in an active market. This represents a promising means for eliciting non-market values. Lusk and Shogren provide a comprehensive guide to the theory and practice of experimental auctions. It will be a valuable resource to graduate students, practitioners and researchers concerned with the design and utilization of experimental auctions in applied economic and marketing research.
Download or read book The Oxford Handbook of International Antitrust Economics written by Roger D. Blair and published by Oxford Handbooks. This book was released on 2015 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than any other area of regulation, antitrust economics shapes law and policy in the United States, the Americas, Europe, and Asia. In a number of different areas of antitrust, advances in theory and empirical work have caused a fundamental reevaluation and shift of some of the assumptions behind antitrust policy. This reevaluation has profound implications for the future of the field. The Oxford Handbook of International Antitrust Economics has collected chapters from many of the leading figures in antitrust. In doing so, this two volume Handbook provides an important reference guide for scholars, teachers, and practitioners. However, it is more than a merely reference guide. Rather, it has a number of different goals. First, it takes stock of the current state of scholarship across a number of different antitrust topics. In doing so, it relies primarily upon the economics scholarship. In some situations, though, there is also coverage of legal scholarship, case law developments, and legal policies. The second goal of the Handbook is to provide some ideas about future directions of antitrust scholarship and policy. Antitrust economics has evolved over the last 60 years. It has both shaped policy and been shaped by policy. The Oxford Handbook of International Antitrust Economics will serve as a policy and research guide of next steps to consider when shaping the future of the field of antitrust.
Download or read book Auctions and Auctioneering written by Ralph Cassady Jr. and published by Univ of California Press. This book was released on 2023-04-28 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1967.
Download or read book Security with Intelligent Computing and Big data Services written by Ching-Nung Yang and published by Springer. This book was released on 2019-04-18 with total page 928 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of the 2018 International Conference on Security with Intelligent Computing and Big-data Services (SICBS 2018). With the proliferation of security with intelligent computing and big-data services, the issues of information security, big data, intelligent computing, blockchain technology, and network security have attracted a growing number of researchers. Discussing topics in areas including blockchain technology and applications; multimedia security; information processing; network, cloud and IoT security; cryptography and cryptosystems; as well as learning and intelligent computing and information hiding, the book provides a platform for researchers, engineers, academics and industrial professionals from around the globe to present their work in security-related areas. It not only introduces novel and interesting ideas, but also stimulates discussions and inspires new ideas.
Download or read book The Future of EMarkets written by Martin Bichler and published by Cambridge University Press. This book was released on 2001 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dynamic pricing and on-line auctions are emerging as the preferred models for e-business. Forrester Research predicts that business-to-business Internet auctions will grow to $52.6 billion by 2002, while dynamically priced business-to-business transactions will rise to $88 billion, representing 27% of the value of all business-to-business e-commerce transactions. This multi-disciplinary book presents a framework of negotiation protocols for electronic markets. It is the first book to combine economics with computer science and the first to describe multidimensional auction mechanisms - i.e. automated negotiations on multiple attributes and/or multiple units of a product. In addition it summarises the introductory economics needed to understand electronic markets, and surveys the literature on negotiation and auction theory. Case studies include the trading of financial derivatives. For use in the design, implementation and upgrade of electronic markets, for researchers in: economics, information systems and operations management, computer science and all students of the e-commerce phenomenon.
