The role of automated agents in the electronic marketplace has been growing steadily and has been attracting a lot of research from the artificial intelligence community as well as from economists. We consider the problem of homogeneous sellers of a single raw material or component vying for business from a single large buyer, and present artificial agents that learn near-optimal seller strateg...

Name-Your-Own-Price is a popular interactive pricing mechanism in Electronic Commerce that lets both, buyer and seller, influence the price of a product. At the outset, a seller defines a secret threshold price indicating the minimum price he is willing to sell the product for. Subsequently, a buyer is asked to place a bid indicating her willingness-to-pay for the product offered. If the bid va...

Market Maker is a tool for creating agent based electronic marketplaces. Market maker supports automated product identification, buyer and seller qualification, and negotiations by software agents to facilitate transactions. The concept of agent based marketplace was first demonstrated through Kasbah, an electronic marketplace developed in the Media Lab's Software Agents group in 1996. Market M...

a r t i c l e i n f o Motivated by the contradictory findings in literature regarding whether high-reputation sellers enjoy a price premium over low-reputation sellers, this paper examines the pricing strategies of sellers with different reputation levels. We find that a negative price premium effect (i.e., a high-reputation seller charges a lower price than a low-reputation seller) exists due ...

Despite the relevance of generating trust in electronic marketplace settings, research addressing the impact of electronic marketplace characteristics on trust is still limited. The few works focusing on the relationships between the electronic marketplace and trust only pay attention to a limited subset of institution-based functions and services. In this paper we extend these works by focusin...

in electronic commerce markets, agents often should acquire multiple resources to fulfil a high-level task. in order to attain such resources they need to compete with each other. in multi-agent environments, in which competition is involved, negotiation would be an interaction between agents in order to reach an agreement on resource allocation and to be coordinated with each other. in recent ...

In electronic markets, seller information is often obscured or unavailable, which current theories of reputation and opportunism contend will motivate opportunistic behavior. We investigate how reputable and opportunistic behaviors are motivated in online auctions. This exploratory study examines irregular bidding, which occurs when a bidder makes a bid for an item in an auction, yet that bidde...

Electronic commerce (a.k.a. E-commerce) systems such as eBay and Taobao of Alibaba are becoming increasingly popular. Having an effective reputation system is critical to this type of internet service because it can assist buyers to evaluate the trustworthiness of sellers, and it can also improve the revenue for reputable sellers and E-commerce operators. We formulate a stochastic model to anal...