Towards a Test-Bed for Trading Agents in Electronic Auction Markets

Towards a test-bed for trading agents in electronic auction markets

We present a framework for defining trading scenarios based on fish market auctions. In these scenarios, trading (buyer and seller) heterogeneous (human and software) agents of arbitrary complexity participate in auctions under a collection of standardized market conditions and are evaluated against their actual market performance. We argue that such competitive situations constitute convenient...

Designing Pricing Mechanisms for Autonomous Agents Based on Bid-Forecasting

Autonomous agents that participate in the electronic market environment introduce an advanced paradigm for realizing automated deliberations over offered prices of auctioned goods. These agents represent humans and their assets, therefore it is critical for them not only to act rationally but also efficiently. By enabling agents to deploy bidding strategies and to compete with each other in a m...

B2B electronic market analysis using game theory

In the explosive growth of Business to Business (B2B) Electronic Trades, electronic markets have received a great deal of attention recently. The obtained profit of trading in E-B2B market encourage market participants to remain in the market. Market participants consist of: sellers, buyers, and market owner. In this paper the expected profit function for each market participant has been define...

The Emergence of Auctions on the Web

Auctions are formalized trading procedures in which the trading partners' interaction is governed by specific trading rules. Empirically we find a multiplicity of auction types with different trade objects, access rules for participants, and trading rules. During the 1980ies electronic auctions have been developed and implemented which distributed not only information about the trade objects el...

FM: A test-bed for electronic auction markets