Download or read book Internet Auctions With Artificial Adaptive Agents written by John Duffy and published by . This book was released on 2015 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many internet auction sites implement ascending-bid, second-price auctions. Empirically, last minute or quot;latequot; bidding is frequently observed in quot;hard-closequot; but not in quot;soft-closequot; versions of these auctions. In this paper, we introduce an independent private-value repeated internet auction model to explain this observed difference in bidding behavior. We use finite automata to model the repeated auction strategies. We report results from simulations involving populations of artificial bidders who update their strategies via a genetic algorithm. We show that our model can deliver late or early bidding behavior, depending on the auction closing rule in accordance with the empirical evidence. Among other findings, we observe that hard-close auctions raise less revenue than soft-close auctions. We also investigate interesting properties of the evolving strategies and arrive at some conclusions regarding both auction designs from a market design point of view.
Download or read book Auctions with Artificial Adaptive Agents written by James Andreoni and published by . This book was released on 1995 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Adaptive Bidding in Single Sided Auctions under Uncertainty written by Clemens van Dinther and published by Springer Science & Business Media. This book was released on 2007-01-10 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the first books on the use of software agents to simulate bidding behavior in electronic auctions. It introduces market theory and computational economics together, and gives an overview on the most common and up-to-date agent-based simulation methods. The book will help the reader learn more about simulations in economics in general and common agent-based methods and tools in particular.
Download or read book Discrete Double Auctions with Artificial Adaptive Agents written by Deddy Koesrindartoto and published by . This book was released on 2002 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Auctions with Adaptive Artificially Intelligent Agents written by James Andreoni and published by . This book was released on 1990 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Agent Based Computational Economics written by Shu-Heng Chen and published by Routledge. This book was released on 2017-09-19 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to answer two questions that are fundamental to the study of agent-based economic models: what is agent-based computational economics and why do we need agent-based economic modelling of economy? This book provides a review of the development of agent-based computational economics (ACE) from a perspective on how artificial economic agents are designed under the influences of complex sciences, experimental economics, artificial intelligence, evolutionary biology, psychology, anthropology and neuroscience. This book begins with a historical review of ACE by tracing its origins. From a modelling viewpoint, ACE brings truly decentralized procedures into market analysis, from a single market to the whole economy. This book also reviews how experimental economics and artificial intelligence have shaped the development of ACE. For the former, the book discusses how ACE models can be used to analyse the economic consequences of cognitive capacity, personality and cultural inheritance. For the latter, the book covers the various tools used to construct artificial adaptive agents, including reinforcement learning, fuzzy decision rules, neural networks, and evolutionary computation. This book will be of interest to graduate students researching computational economics, experimental economics, behavioural economics, and research methodology.
Download or read book WEBKDD 2002 Mining Web Data for Discovering Usage Patterns and Profiles written by Osmar Zaïane and published by Springer Science & Business Media. This book was released on 2003-10-13 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the thoroughly refereed post-proceedings of the 4th International Workshop on Mining Web Data, WEBKDD 2002, held in Edmonton, Canada, in July 2002. The 10 revised full papers presented together with a detailed preface went through two rounds of reviewing and improvement and were selected from 23 submissions. The papers are organized in topical sections on categorization of users and usage, prediction and recommendation, and evaluation of algorithms.
Download or read book Practical Applications of Agent Based Technology written by Haiping Xu and published by BoD – Books on Demand. This book was released on 2012-03-21 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agent-based technology provides a new computing paradigm, where intelligent agents can be used to perform tasks such as sensing, planning, scheduling, reasoning and decision-making. In an agent-based system, software agents with sufficient intelligence and autonomy can either work independently or coordinately with other agents to accomplish tasks and missions. In this book, we provide up-to-date practical applications of agent-based technology in various fields, such as electronic commerce, grid computing, and adaptive virtual environment. The selected applications are invaluable for researchers and practitioners to understand the practical usage of agent-based technology, and also to apply agent-based technology innovatively in different areas.
Download or read book Spontaneous Segregation of Adaptive Agents in Auctions written by Aleksandra Aloric and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Handbook of Market Design written by Nir Vulkan and published by OUP Oxford. This book was released on 2013-08-29 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists often look at markets as given, and try to make predictions about who will do what and what will happen in these markets. Market design, by contrast, does not take markets as given; instead, it combines insights from economic and game theory together with common sense and lessons learned from empirical work and experimental analysis to aid in the design and implementation of actual markets In recent years the field has grown dramatically, partially because of the successful wave of spectrum auctions in the US and in Europe, which have been designed by a number of prominent economists, and partially because of the increase use of the Internet as the platform over which markets are designed and run There is now a large number of applications and a growing theoretical literature. The Handbook of Market Design brings together the latest research from leading experts to provide a comprehensive description of applied market design over the last two decades In particular, it surveys matching markets: environments where there is a need to match large two-sided populations to one another, such as medical residents and hospitals, law clerks and judges, or patients and kidney donors It also examines a number of applications related to electronic markets, e-commerce, and the effect of the Internet on competition between exchanges.
Download or read book Agent Mediated Electronic Commerce Automated Negotiation and Strategy Design for Electronic Markets written by Maria Fasli and published by Springer. This book was released on 2007-06-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the thoroughly refereed post-proceedings of the joint International Workshops on Trading Agent Design and Analysis, TADA 2006, and on Agent Mediated Electronic Commerce, AMEC VIII 2006, held in Hakodate, Japan. The papers address a mix of both theoretical and practical issues in trading agent design and technologies, theoretical and empirical evaluation of strategies in complex trading scenarios as well as mechanism design.
Download or read book Spontaneous Segregation of Adaptive Agents in Auctions written by Aleksandra Alorić and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: When a population of agents divides into subgroups, and subsequently interactions happen between largely fixed subgroups, we regard the population as segregated. The segregated state might confer benefits, e.g. a buyer who has a strong preference for a particular seller has shorter exploration time when buying. As it might also add vulnerability to a system, understanding how segregation emerges is essential. To investigate whether the segregation can arise spontaneously, as a consequence of repeated interaction and co-adaptation among the agents, a stylised model of double auction markets and traders is developed and investigated. We show that in a system with two discrete-time double auctions and a large population of adaptive traders a collaborative segregated state emerges. When the typical scale of market returns become higher than some threshold, the preferred state of the system is segregated: both buyers and sellers are segmented into subgroups that are persistently loyal to one market over another. The segregated state is stabilised by some agents acting cooperatively to enable trade and provides higher rewards than its unsegregated counterpart both for individual traders and the population as a whole. Realising that the agent's adaptation is the key promoter of the segregation, we investigate the robustness of our findings in continuous double auctions with sophisticated trading strategies - adaptive agents still prefer to segregate. Accordingly, to create informed regulations e.g. in large financial systems, we believe it is necessary to investigate benefits and risks that segregation brings and consequently how to promote or suppress it.
Download or read book Artificial Evolution written by Pierre Liardet and published by Springer Science & Business Media. This book was released on 2004-04-08 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the thoroughly refereed post-proceedings of the 6th International Conference on Artificial Evolution, EA 2003, held in Marseilles, France in October 2003. The 32 revised full papers presented were carefully selected and improved during two rounds of reviewing and revision. The papers are organized in topical sections on theoretical issues, algorithmic issues, applications, implementation issues, genetic programming, coevolution and agent systems, artificial life, and cellular automata.
Download or read book Innovations in Information Systems for Business Functionality and Operations Management written by Wang, John and published by IGI Global. This book was released on 2012-04-30 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book offers the latest research in IS/IT applications related to business and operations management, with contributions in the form of case studies, methodologies, best practices, frameworks, and research"--Provided by publisher.
Download or read book The Oxford Handbook of the Digital Economy written by Martin Peitz and published by Oxford University Press. This book was released on 2012-08-23 with total page 615 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic analysis of the digital economy has been a rapidly developing research area for more than a decade. Through authoritative examination by leading scholars, this Handbook takes a closer look at particular industries, business practices, and policy issues associated with the digital industry. The volume offers an up-to-date account of key topics, discusses open questions, and provides guidance for future research. It offers a blend of theoretical and empirical works that are central to understanding the digital economy. The chapters are presented in four sections, corresponding with four broad themes: 1) infrastructure, standards, and platforms; 2) the transformation of selling, encompassing both the transformation of traditional selling and new, widespread application of tools such as auctions; 3) user-generated content; and 4) threats in the new digital environment. The first section covers infrastructure, standards, and various platform industries that rely heavily on recent developments in electronic data storage and transmission, including software, video games, payment systems, mobile telecommunications, and B2B commerce. The second section takes account of the reduced costs of online retailing that threatens offline retailers, widespread availability of information as it affects pricing and advertising, digital technology as it allows the widespread employment of novel price and non-price strategies (bundling, price discrimination), and auctions, as well as better tar. The third section addresses the emergent phenomenon of user-generated content on the Internet, including the functioning of social networks and open source. Finally, the fourth section discusses threats arising from digitization and the Internet, namely digital piracy, privacy and internet security concerns.
Download or read book Autonomous Bidding Agents written by Michael P. Wellman and published by MIT Press. This book was released on 2007 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: E-commerce increasingly provides opportunities for autonomous bidding agents: computer programs that bid in electronic markets without direct human intervention. Automated bidding strategies for an auction of a single good with a known valuation are fairly straightforward; designing strategies for simultaneous auctions with interdependent valuations is a more complex undertaking. This book presents algorithmic advances and strategy ideas within an integrated bidding agent architecture that have emerged from recent work in this fast-growing area of research in academia and industry. The authors analyze several novel bidding approaches that developed from the Trading Agent Competition (TAC), held annually since 2000. The benchmark challenge for competing agents--to buy and sell multiple goods with interdependent valuations in simultaneous auctions of different types--encourages competitors to apply innovative techniques to a common task. The book traces the evolution of TAC and follows selected agents from conception through several competitions, presenting and analyzing detailed algorithms developed for autonomous bidding. Autonomous Bidding Agents provides the first integrated treatment of methods in this rapidly developing domain of AI. The authors--who introduced TAC and created some of its most successful agents--offer both an overview of current research and new results. Michael P. Wellman is Professor of Computer Science and Engineering and member of the Artificial Intelligence Laboratory at the University of Michigan, Ann Arbor. Amy Greenwald is Assistant Professor of Computer Science at Brown University. Peter Stone is Assistant Professor of Computer Sciences, Alfred P. Sloan Research Fellow, and Director of the Learning Agents Group at the University of Texas, Austin. He is the recipient of the International Joint Conference on Artificial Intelligence (IJCAI) 2007 Computers and Thought Award.
Download or read book Bidding Strategies in Agent Based Continuous Double Auctions written by Huiye Ma and published by Springer Science & Business Media. This book was released on 2008-09-15 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a new bidding strategy for agents to adopt in continuous double auctions (CDAs) and proposes some generally used tools to enhance the performance of existing bidding strategies in CDAs. It is the first book to focus on CDAs where a limited amount of seller agents and buyer agents trade what they want. The superior performance of the new bidding strategy and the tools proposed by this book are illustrated through extensive experiments.
