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...

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...

We investigate double-auction (DA) market behavior under traders with different degrees of rationality (intelligence or cognitive ability). The rationality of decision making is implemented using genetic programming (GP), where each trader evolves a population of strategies to conduct an auction. By assigning the GP traders different population sizes to differentiate their cognitive ability, th...

—This paper investigates the problem of proportionally fair double-sided energy auction involving buying and selling agents. The grid is assumed to be operating under islanded mode. A distributed auction algorithm that can be implemented by an aggregator, as well as a possible approach by which the agents may approximate price anticipation is considered. Equilibrium conditions arising due to pr...

This paper inquires about the ability of double auction institutions to aggregate information in the context of a " common value " information structure that is known to produce the winner's curse in sealed bid environments. While many fundamental features of the economic environment are different from those studied in the context of sealed bids, the pattern of information distributed to the po...

Cloud computing has been an emerging model which aims at allowing customers to utilize computing resources hosted by Cloud Service Providers (CSPs). More and more consumers rely on CSPs to supply computing and storage service on the one hand, and CSPs try to attract consumers on favorable terms on the other. In such competitive cloud computing markets, pricing policies are critical to market ef...

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...

We establish the bid-equivalence between an independent private-value (IPV) …rst-price auction model with resale and a model of …rst-price common-value auction, when the resale market satis…es a minimal ef…ciency property and the common value is de…ned by the transaction price. With an application of the Coase Theorem, we show two polar cases in which auctions with resale have opposite properti...

During the past few years, auctions have become popular in conducting trade negotiations on the Internet. The design of new auctions and other negotiation protocols has become an important topic for both, industry and academia. Traditional auction mechanisms allow price-only negotiations for which the winner determination is a computationally simple task. However, the need for new auction mecha...

In recently proposed electricity markets, price-based competitive behaviours of power suppliers (i.e., generators), energy service providers and large users (i.e., consumers) have been formulated using various auction algorithms (see Post et al., 1995; Wolfram, 1998; Dekrajangpetch and Shebl, 2000; Nicolaisen et al., 2001; Swider and Weber, 2007). In this paper, quantized Progressive Second Pri...