We study efficient algorithms for a natural learning problem in markets. There is one seller with m divisible goods and n buyers with unknown individual utility functions and budgets of money. The seller can repeatedly announce prices and observe aggregate demand bundles requested by the buyers. The goal of the seller is to learn the utility functions and budgets of the buyers. Our scenario fal...

This paper reviews extant agent applications and describes the Agent Development Environment (ADE) toolkit. ADE is the integrated development environment to design, develop, debug, simulate and deploy agents. ADE supports the development of multi-agent applications capable of running on a single machine or on a distributed network. ADE has been used to build commercial applications in the area ...

The structure and operation of today's financial markets largely reflect relatively recent advances in electronic information technology and its applications. The ability of market participants to communicate and store vast amounts of information at very high speeds has irreversibly transformed the landscape of these markets. The age of the global, twenty-four-hour-day market is at hand.' Signi...

With the development of electronic commerce, online auction plays an important role in the electronic market. This paper analyzes the seller's pricing strategy with the group-buying auction (GBA), a popular form of online auction, which is designed to aggregate the power of buyers to gain volume discounts. Based on the bidders' stochastic arrival process and optimal strategy with independent pr...

This paper reviews extant agent applications and describes the Agent Development Environment (ADE) toolkit. ADE is the integrated development environment to design, develop, debug, simulate and deploy agents. ADE supports the development of multi-agent applications capable of running on a single machine or on a distributed network. ADE has been used to build commercial applications in the area ...

Bandwidth gains achieved in telecommunication technology have been followed by a recent proliferation of Intelligent Agents on the internet. Intelligent agents have emerged as mechanisms that aid both buyers and sellers in very different ways. It has been observed by several researchers that electronic search mechanisms promote "frictionless" competitive markets that lower buyers' search costs ...

Major changes are occurring in the manner in which goods and services are delivered to consumers and to industry, as systems of electronic interchange are developed. Retailers, bankers, consumers, communicators, and those charged with regulating innovative exchange processes are becoming increasingly interested in understanding the effects of such technolo~cal changes. Under the auspices of Pro...

Price disparities across locations can occur when sellers in one location have difficulty matching with buyers in a different location due to the transaction costs of trading across distance. Spatial arbitrageurs exploit these discrepancies by buying goods from locations where prices are low and reselling them at locations where prices are high. Electronic channels should lower the transaction ...