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Designing Trading Agents for Real-World Auctions [chapter]

Ioannis A. Vetsikas, Nicholas R. Jennings
2010 Lecture Notes in Computer Science  
Using game theory, we design trading strategies for participating in a single auction or group of similar auctions.  ...  Furthermore, we use a principled methodology, utilizing empirical evaluation, to combine these results into the design of agents capable of bidding in the general real-world scenarios.  ...  deemed to be relevant and important in real world auction scenarios; this is the first part of our agenda towards the design of trading agents for realistic auctions.  ... 
doi:10.1007/978-3-642-12842-4_31 fatcat:ty6vvjtqnvdx5nz4ge6cuhltke

Market Mechanism Designs with Heterogeneous Trading Agents

Zengchang Qin
2006 2006 5th International Conference on Machine Learning and Applications (ICMLA'06)  
In this paper, the research of using evolutionary computing methods for auction designs is extended by using heterogeneous trading agents.  ...  This assumption does not hold in real-world markets which are always populated with heterogeneous agents.  ...  Acknowledgment The author thank Tim Kovacs, Dave Cliff and Andrew Byde for some useful comments in the early stage of this work.  ... 
doi:10.1109/icmla.2006.34 dblp:conf/icmla/Qin06a fatcat:jljxlsdturcl3id5yiatrc6hyq

Research Commentary—Designing Smart Markets

Martin Bichler, Alok Gupta, Wolfgang Ketter
2010 Information systems research  
We outline the research opportunities for complex trading environments primarily from the perspective of design of computational tools to analyze individual market organization and provide decision support  ...  decision makers make real-time decisions in these complex environments.  ...  For example, computational research platforms for Trading Agent Competition for Travel 1 is used for optimizing the product configuration based on partially observable customer demand.  ... 
doi:10.1287/isre.1100.0316 fatcat:yoi7t3bmlrfcrfbnic3ifqyrh4

An Evolutionary Game-Theoretic Comparison of Two Double-Auction Market Designs [chapter]

Steve Phelps, Simon Parsons, Peter McBurney
2006 Lecture Notes in Computer Science  
We then weight the design objectives for each mechanism according to the probability distribution over equilibria, which allows us to provide more realistic estimates for the efficiency of each mechanism  ...  In this paper we describe an analysis of two double auction marketsthe clearing house auction and the continuous double auction.  ...  The authors would like to thank William Walsh, Gerry Tesauro and Karl Tuyls for their assistance, Bob Brisco for invaluable feedback given after a talk at BTExact, and the anonymous referees for their  ... 
doi:10.1007/11575726_8 fatcat:a7bawxafpbeuhh5nocxy27v4h4

Competitive Benchmarking: Lessons Learned from the Trading Agent Competition [chapter]

Wolfgang Ketter
2013 Lecture Notes in Computer Science  
Yet, the adoption and deployment of AI practices in real trading environments remains limited, since the proprietary nature of markets precludes open benchmarking, which is critical for further scientific  ...  Apart from game play, though, one of the main reasons for these competitions is to bridge the gap between AI and real-life domains.  ...  A big thanks goes to the TAC community as a whole, who provides with its annual Trading Agent Design and Analysis (TADA) workshop a platform for vivid exchange among the various researchers. Notes 1.  ... 
doi:10.1007/978-3-642-36288-0_2 fatcat:yaxpdddsyjaulm7mdgdeiugquu

Evolutionary mechanism design: a review

Steve Phelps, Peter McBurney, Simon Parsons
2009 Autonomous Agents and Multi-Agent Systems  
messiness of the real-world.  ...  Although it originated in economics, mechanism design has become an important foundation of multi-agent systems (MAS) research.  ...  those seeking to implement real-world market places.  ... 
doi:10.1007/s10458-009-9108-7 fatcat:2neimssrn5fhbnmqo4hvhzlolm

Competitive Benchmarking: Lessons Learned from the Trading Agent Competition

Wolfgang Ketter, Andreas Symeonidis
2012 The AI Magazine  
We describe the goal of the overall Trading Agent Competition and highlight particular competitions.  ...  Over the years, competitions have been important catalysts for progress in artificial intelligence.  ...  A big thanks goes to the TAC community as a whole, who provides with its annual Trading Agent Design and Analysis (TADA) workshop a platform for vivid exchange among the various researchers. Notes 1.  ... 
doi:10.1609/aimag.v33i2.2396 fatcat:4psf2t6o6ja4hotkp2bl4hy3pe

Data Trading With Multiple Owners, Collectors, and Users: An Iterative Auction Mechanism

Xuanyu Cao, Yan Chen, K. J. Ray Liu
2017 IEEE Transactions on Signal and Information Processing over Networks  
In this paper, the data trading problem of a data market with multiple data owners, collectors and users is formulated and an iterative auction mechanism is proposed to coordinate the trading.  ...  The proposed mechanism guides the selfish data agents to trade data efficiently in terms of social welfare and avoids direct access of the agents' private information.  ...  MECHANISM DESIGN In this section, we design an iterative auction mechanism for the data trading problem formulated in Section II.  ... 
doi:10.1109/tsipn.2017.2668144 fatcat:67kf772e4jaadlvkqep2pm63ze

Designing the Market Game for a Commodity Trading Simulation

Shih-Fen Cheng
2007 2007 IEEE/WIC/ACM International Conference on Intelligent Agent Technology (IAT'07)  
In this paper, we propose to design a market game that (a) can be used in modeling and studying commodity trading scenarios, and (b) can be used in capturing human traders' behaviors.  ...  A pilot experiment was run with a mixture of human traders and an autonomous agent that emulates the aggregated market condition, with the assumption that this autonomous agent would hint each of its action  ...  The author would also like to thank Samuel Owens for developing the crude oil trading scenario.  ... 
doi:10.1109/iat.2007.42 dblp:conf/iat/Cheng07 fatcat:t6qigxikl5behm24bmuijrkhge

Filling the P2P Network with White Lies to Make It Anonymous

Makoto Iguchi, Shigeki Goto
2007 2007 IEEE/WIC/ACM International Conference on Intelligent Agent Technology (IAT'07)  
In this paper, we propose to design a market game that (a) can be used in modeling and studying commodity trading scenarios, and (b) can be used in capturing human traders' behaviors.  ...  A pilot experiment was run with a mixture of human traders and an autonomous agent that emulates the aggregated market condition, with the assumption that this autonomous agent would hint each of its action  ...  The author would also like to thank Samuel Owens for developing the crude oil trading scenario.  ... 
doi:10.1109/iat.2007.46 dblp:conf/iat/IguchiG07 fatcat:fxj6gvfwgfar7nszlbzugrn2mq

Agent Exchange – Virtual Trading Environment [chapter]

Jiří Hodík, Milan Rollo, Petr Novák, Michal Pěchouček
2003 Lecture Notes in Computer Science  
Agent Exchange is a virtual trading environment serving as a test bed for experiments with market simulations, trading strategies and auctioning techniques.  ...  This paper describes the design of the Agent Exchange project, its functions and implementation details.  ...  Acknowledgement We thanks for funding the Agent Exchange project by Agentcities.NET (IST-2000-28384) as a project ACNET.02.28.  ... 
doi:10.1007/978-3-540-45185-3_17 fatcat:t3whixdkyncp3kbndck7ike54y

Agents, self-interest and electronic markets

LARS RASMUSSON, SVERKER JANSON
1999 Knowledge engineering review (Print)  
design.  ...  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.  ...  In multimarket scenarios, we can expect to find agents that act as speculators with the intention to exploit price inefficiencies, just as in the "real" world.  ... 
doi:10.1017/s026988899914205x fatcat:625ylz5q45b2jbkqoaznvnqjia

Designing adaptive trading agents

David Pardoe, Peter Stone
2011 ACM SIGecom Exchanges  
The thesis considers how adaptive trading agents can take advantage of previous experience (real or simulated) in other markets while remaining robust in the face of novel situations in a new market.  ...  Its contributions are at the intersection of machine learning and electronic commerce, with particular focus on transfer learning and fully autonomous trading agents.  ...  One problem in both TAC and real world markets is that data for training models for the current market (i.e., games against the current set of competing agents in TAC) may be limited, even though data  ... 
doi:10.1145/1998549.1998557 fatcat:pjrrjsvawnb3hk2limhyirjxaa

Learning to Classify and Imitate Trading Agents in Continuous Double Auction Markets [article]

Mahmoud Mahfouz, Tucker Balch, Manuela Veloso, Danilo Mandic
2021 arXiv   pre-print
We experimentally compare a number of techniques for both tasks and evaluate their applicability and use in real-world scenarios.  ...  In this work, we develop an agent-based model for trading in a limit order book and show (1) how opponent modelling techniques can be applied to classify trading agent archetypes and (2) how behavioural  ...  This paper was prepared for informational purposes in part by the Artificial Intelligence Research group of JPMorgan Chase & Co and its affiliates ("J.P.  ... 
arXiv:2110.01325v1 fatcat:cdintau3lfb3vnj57nickkrnri

Laboratory Experiments of Tradable Development Rights: A Synthesis of Different Treatments

Till Proeger, Lukas Meub, Kilian Bizer
2018 Sustainability  
For various issues of institutional design, there is an ongoing debate on the benefits and issues of using experimental evidence for applied policy-making.  ...  The market based approach of a cap and trade system for TDR is discussed among economists in many countries.  ...  Further, the number of agents in a real-world TDR scheme would substantially increase compared to our sample.  ... 
doi:10.3390/su10061972 fatcat:ppheh33qozdy5ccoxjzhvr2uju
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