Engineering market-driven agents for electronic auction

Pao Yue-kong Library Electronic Theses Database

Engineering market-driven agents for electronic auction


Author: Wong, Yuk Eric
Title: Engineering market-driven agents for electronic auction
Degree: M.Sc.
Year: 2000
Subject: Auctions -- Data processing
Negotiation in business -- Data processing
Intelligent agents (Computer software)
Electronic commerce
Hong Kong Polytechnic University -- Dissertations
Department: Multi-disciplinary Studies
Dept. of Computing
Pages: vi, 94 leaves : ill. ; 30 cm
Language: English
Abstract: While there are several extant agent-based systems addressing the crucial and difficult issues of automated negotiation and auction, this research has designed and engineered a society of trading agents with two distinguishing features: (i) a market-driven negotiation strategy and (ii) a deal optimizing auction protocol. Unlike some of the existing systems where users manually select predefined trading strategies, in the market-driven approach, trading agents automatically select the appropriate strategies by examining the changing market situations. Results from a series of experiments seemed to indicate that the market-driven approach seems to achieve generally more favorable outcomes as compared to the fixed strategy approach. Furthermore, it provides a more intuitive simulation of trading because trading agents are able to respond to different market situations with appropriate strategies. By augmenting the auction protocol with a deal optimization stage, trading agents can be programmed to optimize transaction deals by delaying the finalization of deals in search of better deals. Experimental results showed that by having a deal optimization stage, the auction protocol produced generally optimistic outcomes.

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