Profit-Maximizing Strategies for an Artificial Payment Card Market. Is Learning Possible?
نویسندگان
چکیده
منابع مشابه
Profit-Maximizing Strategies for an Artificial Payment Card Market. Is Learning Possible?
In this paper, we study the dynamics of competition in the payment card market. This is done through a multi-agent based model, which captures explicitly the commercial transactions at the point of sale between consumers and merchants. Through simulation, we attempt to model the demand for payment instruments on both sides of the market. Constrained by this complex demand, a Generalised Populat...
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In this paper we use the Generalised Population Based Incremental Learning (GPBIL) in order to find profit-maximizing strategies for the Artificial Payment Card Market (APCM). The artificial market has modeled explicitly a multidimensional consumers’ and merchants’ demand for payment instruments. Given the complex shape of the demand, we have found that the GPBIL effectively explores the areas ...
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∗General Directorate of Central Banking Operations, Bank of Mexico Avenida 5 de Mayo No.6, Colonia Centro, Delegacion Cuauhtemoc, 06059 Distrito Federal, Mexico City, Mexico E-mail: [email protected] ∗∗Department of Computer Science, University of Essex Wivenhoe Park, Colchester CO4 3SQ, Great Britain, E-mail: [email protected] ∗∗∗School of Management, University of Bath, Bath BA2 7A...
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This paper introduces an artificial payment card market in which we model the interactions between consumers, merchants and competing card issuers with the aim of determining the optimal pricing structure for card issuers. We allow card issuers to charge consumers and merchants with fixed fees, provide net benefits from card usage and engage in marketing activities. The demand by consumers and ...
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ژورنال
عنوان ژورنال: Journal of Intelligent Learning Systems and Applications
سال: 2011
ISSN: 2150-8402,2150-8410
DOI: 10.4236/jilsa.2011.32009