In this paper, we investigate the effectiveness of different types of bidding behaviour for trading agents in the Continuous Double Auction (CDA). Specifically, we consider behavioural types that are neutral (expected profit maximising), passive (targeting a higher profit than neutral) and aggressive (trading off profit for a better chance of transacting). For these types, we employ an evolutio...

FACULTY OF ENGINEERING, SCIENCE AND MATHEMATICS SCHOOL OF ELECTRONICS AND COMPUTER SCIENCE Doctor of Philosophy by Perukrishnen Vytelingum The last decade has seen a shift in emphasis from centralised to decentralised systems to meet the demanding coordination requirements of today’s complex computer systems. In such systems, the aim is to achieve effective decentralised control through autonom...

The Continuous Double Auction (CDA) is the dominant market institution for real-world trading of equities, commodities, derivatives, etc. We describe a series of laboratory experiments that, for the first time, allow human subjects to interact with software bidding agents in a CDA. Our bidding agents use strategies based on extensions of the Gjerstad-Dickhaut and Zero-Intelligence-Plus algorith...

Gode & Sunder's (1993) results from using \zerointelligence" (zi) traders, that act randomly within a continuous double-auction (cda) market, appear to imply that human-like convergence to the theoretical equilibrium price in such markets is determined more by market structure than by the intelligence of the traders in that market. This paper presents a mathematical analysis that predicts serio...

Comparative studies of auction and negotiation exchange mechanisms are inconclusive. These studies have typically compared outcomes obtained from the two mechanisms. The question which this paper aims to address is the viability of outcome-based comparisons. Such comparisons assume that both mechanisms produce the same types of outcomes but their values differ. An argument can be made that this...

Abstract The incentive mechanism of federated learning has been a hot topic, but little research done on the compensation privacy loss. To this end, study uses Local SGD federal framework and gives theoretical analysis under use differential protection. Based analysis, multi‐attribute reverse auction model is proposed to be used for user selection as well payment calculation participation in le...

Emerging applications over spatio-temporal trajectories require representing the data from diverse aspects. We study multi-attribute each of which consists a sequence time-stamped locations and set attributes characterizing investigate continuous range queries trajectories. Such query returns whose contain expected values are always within distance threshold to trajectory during entire overlapp...

A Continuous Double Auction (CDA) is a powerful auction mechanism used in online share trading. A CDA has many buyers and sellers continually exchanging items. Implementing an online CDA in software is more complicated than a regular online auction (such as eBay). This paper describes our experiences with implementing an online CDA. We present the model as an abstraction of the online share tra...

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...

Dynamic pricing and good level of Pareto optimality make auctions more attractive for resource allocation over other economic models. However, some auction models present drawbacks regarding the high demand of communication when applied to large-scale scenarios. In a complex Grid environment, the communication demand can become a bottleneck; that is, a number of messages need to be exchanged fo...