This paper describes the implementation and design of a web-scale electronic continuous double auction system. The intention of this system is to facilitate multiple simultaneous participants in the form of autonomous trading agents; an individual agent may only trade in a single market at a time, though a single commodity may be traded in multiple markets by multiple agents simultaneously. The...

Group buying is a business model in which a number of buyers join together to make an order of a product in a certain quantity in order to gain a desirable discounted price. Such a business model has recently received significant attention from researchers in economics and computer science, mostly due to its successful application in online businesses, such as Groupon5. This paper deals with th...

We investigate equilibrium in the buyer’s bid double auction (BBDA) in a model with correlated signals and either private or interdependent values. Using a combination of theorems and numerical experiments, we demonstrate that simple equilibria exist even in small markets. Moreover, we bound traders’ strategic behavior as a function of market size and derive rates of convergence to zero of (i) ...

First-come-first-serve (FCFS) scheme is used for selling the goods in market that is a multi-million dollar industry for any popular event. But in a competitive environment is this FCFS efficient? In earlier literature it has been shown that the auction based alternative solutions using the framework of mechanism design, a sub field of game theory [18] can provide better results against FCFS in...

Department of Business Administration, The University of Illinois at Urbana-Champaign, Champaign IL 61820, USA Operations and Information Management Department, School of Business, University of Connecticut, Storrs, CT 06269, USA Center for Research in Electronic Commerce, McCombs School of Business, The University of Texas at Austin, Austin TX 78712-1175, USA [email protected] • [email protected]...