Grid computing, emerging as a new paradigm for next-generation computing, enables the sharing, selection, and aggregation of geographically distributed heterogeneous resources for solving large-scale problems in science, engineering, and commerce. The resources in the Grid are heterogeneous and geographically distributed. The paper demonstrates the capability of economicbased systems for wide-a...

The use of e-Auction services has been increasing in recent years. Security requirements in conducting eAuctions are mainly bid privacy, anonymity and public verifiability. Most of the secure protocols concentrate on privacy and anonymity, which are achieved through bidder-resolved multi-party computation, assuming two or more trusted third parties, either through numerous auctioneers or with a...

To build a new bidding model of multi-attribute online auctions, this paper introduces the concepts of multi-type attribute and nonlinear function. The model can measure the effect of the attributes in auctions by adopting the normalized method of weighting and it will set the stage for the purchasers to evaluate suppliers in the procurement management. Furthermore, this paper developed an appl...

In this paper, we study online double auctions, where multiple sellers and multiple buyers arrive and depart dynamically to exchange one commodity. We show that there is no deterministic online double auction that is truthful and competitive for maximising social welfare in an adversarial model. However, given the prior information that sellers are patient and the demand is not more than the su...

The use of reverse auctions for procurement activities has grown tremendously over the last several years. The majority of these auctions use a single dimension (price) format while providing constraints on non-price attributes such as quality and lead time. In this research, we present an auction mechanism for a buyer whose utility function is known and dependent on three attributes: price, qu...

In multi-attribute procurement auctions with multiple objects, the auctioneer may care about the interplay of quality attributes that do not belong to the same item – like each item’s delivery time, if all items are needed at once. This can influence the performance of the auction mechanism. We generalize the Ausubel-Milgrom ascending proxy auction to such an environment and show that the main ...

We study a phenomenological model for the continuous double auction, whose aggregate order process is equivalent to two independent M/M/1 queues. The continuous double auction defines a continuous-time random walk for trade prices. The conditions for ergodicity of the auction are derived and, as a consequence, three possible regimes in the behavior of prices and logarithmic returns are observed...

D auction prediction markets have proven successful in large-scale applications such as elections and sporting events. Consequently, several large corporations have adopted these markets for smaller-scale internal applications where information may be complex and the number of traders is small. Using laboratory experiments, we test the performance of the double auction in complex environments w...

In this paper we describe an analysis, using evolutionary game theory, of two double auction markets—the clearing house auction and the continuous double auction. We use heuristic-strategy approximation to analyse two broad classes of traders. One heuristic strategy approximates human behavior, and the other is a simple automated strategy, so our analysis permits us to predict the evolution of ...