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Brokering strategies in electronic commerce markets

Arie Segev, Carrie Beam
1999 Proceedings of the 1st ACM conference on Electronic commerce - EC '99  
We then investigate in detail the effect of search costs on the performance of the broker's optimal strategy for the case of M buyers and N sellers where negotiation is on the price attribute of the product  ...  In this paper we first provide an overview of the evolving brokering practices and limitations of existing work.  ...  Dynamic system behavior One area for research in online brokers is the dynamic system behavior.  ... 
doi:10.1145/336992.337038 dblp:conf/sigecom/SegevB99 fatcat:4eftdwscqzhotmijfq2gmol5om

Agents, self-interest and electronic markets

1999 Knowledge engineering review (Print)  
In systems designed with the market based resource allocation paradigm, resources are allocated based on the current supply and demand for a set of resources.  ...  Activity in this field has surged the last few years, riding on the Internet bandwagon, but the idea of viewing parts of a distributed computing systems as economic agents has been around at least since  ...  Many agent systems are based on distributed programming protocols that rely on cooperative behavior.  ... 
doi:10.1017/s026988899914205x fatcat:625ylz5q45b2jbkqoaznvnqjia

Market-based recommendation

Sander M. Bohte, Enrico Gerding, Han La Poutré
2004 ACM Transactions on Internet Technology  
We also develop adaptive software agents that learn bidding-strategies, based on neural networks and strategy exploration heuristics.  ...  Furthermore, we address the commercial and technological advantages of this distributed market-based approach.  ...  In this approach, the agent system is investigated like an economic market, as in agent-based computational economics (ACE).  ... 
doi:10.1145/1031114.1031118 fatcat:ikpkkh6pkjgwzpefb6o6dvbc6m

Automated bidding in computational markets: an application in market-based allocation of computing services

Nikolay Borissov, Dirk Neumann, Christof Weinhardt
2009 Autonomous Agents and Multi-Agent Systems  
In: OTM Conferences (1), pp 744–761 Cliff D (1997) Minimal-intelligence agents for bargaining behaviors in market-based environments.  ...  The survey focuses more on mechanisms for market-based scheduling than on analyzing works related to consumer and provider strategic behavior.  ... 
doi:10.1007/s10458-009-9112-y fatcat:mds43eoymbdbbpsdpeehgiowvq

Methodologies for the design of negotiation protocols on E-markets

Martin Bichler, Arie Segev
2001 Computer Networks  
Markets play a central role in the economy, facilitating the exchange of information, goods, services, and payments.  ...  In recent years, there has been an enormous increase in the role of information technology, culminating in the emergence of electronic marketplaces. Negotiations are at the core of each negotiation.  ...  An internet-based marketplace for OTC derivatives Based on the above ideas we implemented an Internet-based marketplace for OTC derivatives.  ... 
doi:10.1016/s1389-1286(01)00212-2 fatcat:lhshdrmwnrb7tdy566fndenn5a

Combinatorial Algorithms for Matching Markets via Nash Bargaining: One-Sided, Two-Sided and Non-Bipartite [article]

Ioannis Panageas, Thorben Tröbst, Vijay V. Vazirani
2022 arXiv   pre-print
This led [Hosseini and Vazirani 2021] to define a rich collection of Nash-bargaining-based models for one-sided and two-sided matching markets, in both Fisher and Arrow-Debreu settings, together with implementations  ...  remained a classic in economics for one-sided matching markets, is intractable; computation of even an approximate equilibrium is PPAD-complete [Vazirani, Yannakakis 2021], [Chen et al 2022].  ...  Models We will define four one-sided matching market models based on our Nash bargaining approach.  ... 
arXiv:2106.02024v3 fatcat:k3dd3dsoingwvnzri7vun3od3e

Field Experiments in Markets [chapter]

O. Al-Ubaydli, J.A. List
2017 Handbook of Economic Field Experiments  
The main results covered by the review are as follows: (1) Generally speaking, markets organize the efficient exchange of commodities;(2) There are some behavioral anomalies that impede efficient exchange  ...  The main results covered by the review are as follows: (1) Generally speaking, markets organize the efficient exchange of commodities; (2) There are some behavioral anomalies that impede efficient exchange  ...  Lucking-Reiley (1999) uses Internet-based auctions in a preexisting market with an unknown number of participating bidders to test the theory of revenue equivalence between the four major auction formats  ... 
doi:10.1016/bs.hefe.2016.09.001 fatcat:cyujnybzpfgrlfhphk25m7yyta

Insurance and Insurance Markets [chapter]

Georges Dionne, Scott E. Harrington
2014 Handbook of the Economics of Risk and Uncertainty  
The review begins with the role of utility, risk, and risk aversion in the insurance literature and then summarizes work on the demand for insurance, insurance and resource allocation, moral hazard, and  ...  In their model, insurers choose an optimal level of capital based on the cost of holding capital and the benefits of protecting franchise value.  ...  A few studies have begun to explore the use and effects of internet technology on insurance distribution and market outcomes.  ... 
doi:10.1016/b978-0-444-53685-3.00005-2 fatcat:6dr77ucm4jes3ajntrpubkzuce

Consumer Decision Making on the Web: A Theoretical Analysis and Research Guidelines

Girish Punj
2012 Psychology & Marketing  
A cross-disciplinary theoretical analysis based on constructs drawn from economics (e.g., time costs), computing (e.g., recommendation agents), and psychology (e.g., decision strategies) is conducted to  ...  and enhancing consumer welfare in electronic markets.  ...  In a seminal article on the expected impact of the Internet on consumer information search behavior, Peterson and Merino (2003) cautioned that there was no assurance that the Internet would lead to better  ... 
doi:10.1002/mar.20564 fatcat:6tnlxlkns5dhdd4fympplu7zr4

Designing for reintermediation in the brick-and-mortar world: Towards the travel agency of the future

Jasminko Novak, Gerhard Schwabe
2009 Electronic Markets  
In particular, we propose a reintermediation framework based on the integration of kernel theories from information seeking behavior, interactive value creation, relationship marketing and the design of  ...  Traditional travel agencies are struggling to develop new value propositions which differentiate them against the Internet competition, largely based on expanding their reach through online subsidiaries  ...  not only based on the statements of the sales agent and official travel information but also based on the reviews and ratings of other users (Novak, 2009) .  ... 
doi:10.1007/s12525-009-0003-5 fatcat:fvx2tzpicnbpzait62xkvr4rpq

EWA Learning in Bilateral Call Markets [chapter]

Colin F. Camerer, David Hsia, Teck-Hua Ho
2002 Experimental Business Research  
optimal bid functions.  ...  This chapter extends the EWA learning model to bilateral call market games (also known as the "sealed-bid mechanism" in two-person bargaining).  ...  in strategy space based on the optimal bid function.  ... 
doi:10.1007/978-1-4757-5196-3_11 fatcat:lzh6syysgbgddgnjltfrljdlr4

Emerging Market Business Cycles: The Role of Labor Market Frictions

2015 Journal of Money, Credit and Banking  
Labor markets in emerging economies are characterized by large fluctuations in wages and subdued fluctuations in employment.  ...  This inherent propagation mechanism goes a long way in accounting for higher consumption variability relative to output and countercyclical current account that characterize emerging market business cycles  ...  Our statistics are based on quarterly data.  ... 
doi:10.1111/jmcb.12168 fatcat:jrxfdocjarc6jbql5csmo3w6ea

Efficiently Inefficient Markets for Assets and Asset Management

Nicolae Garleanu, Lasse Heje Pedersen
2015 Social Science Research Network  
We consider a model where investors can invest directly or search for an asset manager, information about assets is costly, and managers charge an endogenous fee.  ...  In equilibrium, the efficiency of asset prices is linked to the efficiency of the asset management market: (1) if investors can find managers more easily then more money is allocated to active management  ...  Investors who don't do due diligence, but invest based on an optimal use of public information also expect to outperform before and after the fee, but by less.  ... 
doi:10.2139/ssrn.2641770 fatcat:tstiqvgq2zcidokx62ng7zzwse

Game-theoretic, Market and Meta-Heuristics Approaches for Modelling Scheduling and Resource Allocation in Grid Systems

Fats Xhafa, Joanna Kolodziej
2010 2010 International Conference on P2P, Parallel, Grid, Cloud and Internet Computing  
We study the case of asymmetric Stackelberg game used for modelling the Grid users' behavior, where the security and reliability criterions are aggregated and defined as the users' costs functions.  ...  In this paper, we present a compact survey of the most relevant research proposals in the literature to use game-based models for the resource allocation problems and their resolution using metaheuristic  ...  Its complexity comes from the number of objectives to optimize (single vs. multi-objective), the type of the environment (static vs. dynamic), the processing mode (immediate vs. batch), tasks interrelations  ... 
doi:10.1109/3pgcic.2010.39 dblp:conf/3pgcic/XhafaK10 fatcat:t4zsz6hrvve7djgquo22tolsiq

Existence of Market Equilibria for Grid Computing

Gireesh Shrimali
2012 Applied Mathematics  
We next derive some intuitive necessary conditions based on the computing requirements of individual agents.  ...  In this model all exogenous prices (on goods) are variable and equilibrium requires that all markets clear under independent decisions made by agents.  ...  Regular Markets So far we have focused on exchange markets where agents trade based on implicit prices making bartering of goods rational. This may apply to certain markets such as P2P computing.  ... 
doi:10.4236/am.2012.311242 fatcat:m4nabd6k3feohfzak4ex6vdnha
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