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Agents learned, but do we? Knowledge discovery using the agent-based double auction markets

Shu-Heng Chen, Tina Yu
2011 Frontiers of Electrical and Electronic Engineering in China  
We then study the bargaining strategies, discovered by them, and from there, an autonomous-agent-inspired economic theory with regard to the optimal procrastination is derived.  ...  This paper demonstrates the potential role of autonomous agents in economic theory. We first dispatch autonomous agents, built by genetic programming, to double auction markets.  ...  [6] , where autonomous agents are placed in surroundings filled with SFI-style programmed agents.  ... 
doi:10.1007/s11460-011-0132-4 fatcat:vysvwcdl7bhwvb6zk6mgcts7fe

Agents and markets

A. Greenwald, N.R. Jennings, P. Stone
2003 IEEE Intelligent Systems  
This interdependence arises because the different agents, with their own aims and objectives, must operate in a common environment that has finite resources and capabilities.  ...  A utonomous agents are intelligent software programs. Typically, agents are situated in an environment.  ...  They discovered that a significant amount of humanagent trading occurred (not just agents trading with agents and humans trading with humans) and that the agents performed significantly better, even when  ... 
doi:10.1109/mis.2003.1249164 fatcat:5edsbgivtraazfljvlrzpce5km

The Agent-Based Double Auction Markets: 15 Years On [chapter]

Shu-Heng Chen, Chung-Ching Tai
2010 Simulating Interacting Agents and Social Phenomena  
in which human agents, programmed agents and autonomous agents have been involved.  ...  Novelties discovering as a source of constant change is the essence of economics. However, most economic models do not have the kind of noveltiesdiscovering agents required for constant changes.  ...  Fig. 2 Fig. 3 23 The Agent-Based Double Auction Market Simulation with MGP Agents. Fig. 4 4 Comparisons of GP traders with non-autonomous strategies.  ... 
doi:10.1007/978-4-431-99781-8_9 dblp:conf/wcss/ChenT08 fatcat:t55rmrkvabd6ncfzh6lkhec6ki

Agent-assisted supply chain management: Analysis and lessons learned

William Groves, John Collins, Maria Gini, Wolfgang Ketter
2014 Decision Support Systems  
Our testbed is a competitive simulation, the Trading Agent Competition for Supply-Chain Management (TAC SCM), which simulates a one-year product life-cycle where six autonomous agents compete to procure  ...  Specifically we propose the use of agent-based competitive simulation as a tool to develop complex decision making strategies and to stress test them under a variety of market conditions.  ...  Central to smart markets are software agents with adjustable autonomy, i.e. programs capable of autonomous or semi-autonomous decision making, which are used to assist humans.  ... 
doi:10.1016/j.dss.2013.09.006 fatcat:ucjo73chk5b25dqjeatjzaqqhe

Flexible Decision Support in a DynamicBusiness Network [chapter]

John Collins, Wolfgang Ketter, Maria Gini
2009 The Network Experience  
We have implemented and tested this architecture in the MinneTAC trading agent, which is designed to compete in the Supply Chain Trading Agent Competition [4].  ...  Additionally we describe visualizers that allow managers to see and manipulate the configuration of the network, and to construct economic dashboards that can display the current and historical state of  ...  The version of MinneTAC that ran in the 2007 Trading Agent Competition used a modified "pull" method to coordinate its decisions.  ... 
doi:10.1007/978-3-540-85582-8_15 fatcat:wiiagyt56zhhzkzgl336sddnwe

JACK: A Java Auction Configuration Kit [chapter]

Thomas Goff, Amy Greenwald, Elizabeth Hilliard, Wolfgang Ketter, Andrew Loomis, Eric Sodomka
2013 Lecture Notes in Business Information Processing  
Such comparisons are the basis for the Trading Agent Competition (TAC), in which autonomous trading agents compete in simulated market scenarios.  ...  A key step in the evaluation of an agent (either autonomous or human) is determining the agent's success as compared to other agents designed to participate in the same environment.  ...  Indeed, the annual trading agent competitions (TAC) have been run using these two servers.  ... 
doi:10.1007/978-3-642-40864-9_4 fatcat:cgax2vmozzbzhnjprc746qwjnm

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

Wolfgang Ketter
2013 Lecture Notes in Computer Science  
Chess, poker, stock trading, real-time strategy games, robot soccer, robot rescue or planning, and autonomous vehicles are among the most well known.  ...  Many of these competitions focus on development of rational behavior that would allow dominance over competitors.  ...  For further information regarding the different competitions and tournament schedules, please visit the Association for Trading Agents Research website ( 2.  ... 
doi:10.1007/978-3-642-36288-0_2 fatcat:yaxpdddsyjaulm7mdgdeiugquu

Preface to the Special Section on Software Agents

2003 Electronic Markets  
This issue of Electronic Markets focuses on three important aspects of agentbased electronic commerce: The trading agent competition; the analysis of business models for agent technology; and the topic  ...  They give directions how the computational concept of agent-based systems can grow together with established economic concepts.  ... 
doi:10.1080/1019678032000062203 fatcat:ntkylfmt45gcfoiiuqahilwg2q

Pushing the Limits of Rational Agents: The Trading Agent Competition for Supply Chain Management

John Collins, Wolfgang Ketter, Norman Sadeh
2010 The AI Magazine  
We describe one such competition, the Trading Agent Competition for Supply Chain Management (TAC SCM).  ...  TAC SCM requires autonomous supply chain entities, modeled as agents, to coordinate their internal operations while concurrently trading in multiple dynamic and highly competitive markets.  ...  Another big thanks goes to the TAC community as a whole, which provides a platform for vivid exchange and feedback among the various researchers through an annual workshop on Trading Agent Design and Analysis  ... 
doi:10.1609/aimag.v31i2.2287 fatcat:hn3kmttlt5ehhm4x6qbx4pba6y

Interaction among actors in retail market competition in malang city

B Kurniawan, M F Ma'ruf
2018 Journal of Physics, Conference Series  
The result showed the relationship between space and time, structure duality with the agent in retail market competition contributes in producing injustice.  ...  In a competitive retail market, traditional traders get less protection from the Government of Malang Municipality.  ...  ACKNOWLEDGEMENTS The authors have been able to finish writing the journal, entitled "A Structuration Analysis of Good Governance in Terms of Local Retail Market Competition".  ... 
doi:10.1088/1742-6596/953/1/012159 fatcat:jegxb7q3uzewxgtr4ak36iif74

Agent-based computational economics: methodology and its application in electricity market research

Yu Shun-, Yuan Jia-hai
2005 2005 International Power Engineering Conference  
Recently, under the paradigm of Agent-based computational economics (ACE) a new research focus is forming and a large number of literatures are springing up, but there is still no the discussion on ACE's  ...  The further selective survey on existing literatures shows that with the ACE model the marketization process can be understood clearly in deeper level and wider scope.  ...  Agent computation economics (ACE) is the computational study of economies modeled as evolving systems of autonomous interacting agents with learning capabilities, which is Specialization of economics research  ... 
doi:10.1109/ipec.2005.206944 fatcat:mkpzqf7mk5bexgmu32tsc55raa

Markets, Institutions, and Transaction Costs: The Endogeneity of Governance

Geoffrey R. D. Underhill
2007 Social Science Research Network  
The distinction portrays the process of 'economic' competition as separate from the deployment of private political resources to affect the terms of competition in line with agent preferences.  ...  the utility-maximising behaviour of economic agents.  ...  Both governance and the deployment of resources in competition with rival economic agents are all about setting the terms of competition in line with agent preferences.  ... 
doi:10.2139/ssrn.1026332 fatcat:acie7zln6ncnrhyl4dwc5pznzy

A Research on Negotiation Strategies for Energy Internet Based on Multi-agent System

2018 DEStech Transactions on Social Science Education and Human Science  
With the rapid development of energy internet, the marketization of power transaction has further been promoted with higher transaction efficiency, and the promotion and application of clean energy will  ...  As electricity market is a typical complex adaptive system, this paper first applies multi-agent system technology to establish the energy internet system, and then studies the electricity transaction  ...  Multi-agent system is the effective approach for complex economic systems with the autonomous, interactive and active learning characteristics.  ... 
doi:10.12783/dtssehs/aeme2017/18533 fatcat:uh652wobqfh4zhewfcifu6mk7u

Market-based control of computational systems: introduction to the special issue

Enrico H. Gerding, Peter McBurney, Xin Yao
2009 Autonomous Agents and Multi-Agent Systems  
Similar large-scale systems of interacting, self-interested and autonomous actors (humans) comprise the domain of study of economics, and so computer scientists have begun to look to economics for models  ...  The authors study the stability, convergence properties and robustness of their mechanism under various conditions, including competitive co-evolution of the participating agents.  ... 
doi:10.1007/s10458-009-9114-9 fatcat:m5mio2duzvdxzed2d77se7yf6u

Agent-based computational economics: modeling economies as complex adaptive systems

L Tesfatsion
2003 Information Sciences  
Agent-based computational economics (ACE) is the computational study of economies modelled as evolving systems of autonomous interacting agents.  ...  Thus, ACE is a specialization to economics of the basic complex adaptive systems paradigm.  ...  Researchers can now quantitatively model a wide variety of complex phenomena associated with decentralized market economies, such as inductive learning, imperfect competition, trade network formation,  ... 
doi:10.1016/s0020-0255(02)00280-3 fatcat:p4nz3nz2zfcdbgez77dsi25l2e
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