This paper describes the use of a genetic algorithm (GA) to find parameter-values for trading agents that operate in virtual “e-marketplaces”, where the rules of the marketplaces are also under simultaneous control of the GA. The aim is to use the GA to automatically design new agent-based e-marketplaces that are more efficient than markets designed by (or populated by) humans. Das et al. (2001...

Spectrum is a valuable, scarce and finite natural resource that is needed for many different applications, so efficient use of the scarce radio spectrum is important for accommodating the rapid growth of wireless communications. Spectrum auctions are one of the best-known market-based solutions to improve the efficiency of spectrum use. However, Spectrum auctions are fundamentally differen...

We conducted a large number of controlled continuous double auction experiments to reproduce and stress-test the phenomenon convergence competitive equilibrium under private information with decentralized trading feedback. Our main finding is that across total 104 markets (involving over 1,700 subjects), occurs after handful periods. Initially, however, there an inherent asymmetry favors buyers...

Although the iterative double auction has been widely used in many different applications, one of major problems its current implementations is that they rely on a trusted third party to handle process. This imposes risk single point failures, monopoly, and bribery. In this article, we aim tackle problem by proposing novel decentralized trustless framework for based blockchain. Our design adopt...

Internet-based auction is a profitable, exciting and dynamic part of E-commerce. However, the lack of standard on negotiation protocols between buyers and auctioneers makes the full automation of E-commerce infeasible. Hence, we (1) propose a web-based agent platform for E-commerce which allows humans and software agents to perform automatic auctions over the Internet; (2) develop a set of nego...