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...

Online auction fraud is currently the number one Internet fraud. This is partially because traditional auction mechanisms fail to accommodate new perspectives of the Internet. For instance, the Generalized Vickrey Auction (GVA) for multi-unit auctions is no longer incentive compatible under buyer false-name bidding; a buyer may reduce his payment by splitting a single legitimate bid for a large...

The present study contributes to the ongoing debate on possible costs and benefits of insider trading. We a novel call auction model with information. Our predicts that more information improves informational efficiency prices, but this comes at expense reduced gains from trade. Testing these hypotheses in lab, we find increases prices does not decrease realized further perform worse than conti...

In this paper, we study the auction model for resource management using the SimGrid simulation framework. We investigate three types of auction allocation protocols: (i) First-Price Auction, (ii) Vickrey Auction and (iii) Double Auction. The goal is to find which one is best suitable for the grid environment from users’ perspective as well as from resources’ perspective. The results showed that...

the sensitivity analysis for multi-attribute decision making (madm) problems is important for two reasons: first, the decision matrix as the source of the results of a decision problem is inaccurate because it sorts the alternatives in each criterion inaccurately. second, the decision maker may change his opinions in a time period because of changes in the importance of the criteria and in the ...

Electronic exchanges are double-sided marketplaces that allow multiple buyers to trade with multiple sellers, with aggregation of demand and supply across the bids to maximize the revenue in the market. Two important issues in the design of exchanges are (1) trade determination (determining the number of goods traded between any buyerseller pair) and (2) pricing. In this paper we address the tr...