Adaptive Bidding in Single-Sided Auctions under Uncertainty

Adaptive Bidding in Single-Sided Auctions under Uncertainty PDF

Author: Clemens van Dinther

Publisher: Springer Science & Business Media

Published: 2007-01-10

Total Pages: 245

ISBN-13: 3764381132

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This is one of the first books on the use of software agents to simulate bidding behavior in electronic auctions. It introduces market theory and computational economics together, and gives an overview on the most common and up-to-date agent-based simulation methods. The book will help the reader learn more about simulations in economics in general and common agent-based methods and tools in particular.

Learning to Bid

Learning to Bid PDF

Author: Thomas H. Noe

Publisher:

Published: 2005

Total Pages: 0

ISBN-13:

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We examine auction design in a context where symmetrically informed buyers and sellers of a good with a common but uncertain value learn through experience. Buyer strategies, even in the very long run, do not converge to the Bertrand-Nash strategy of bidding the expected value of the good. Moreover, first- and second-price auctions are not revenue equivalent. The outcomes of the auctions are sensitive to both the number of participating bidders and the reservation price. When only a small number of bidders participate, the sellers tend to employ a first-price auction even though it generates a lower average revenue than a second-price auction.

Multi-Agent Applications with Evolutionary Computation and Biologically Inspired Technologies: Intelligent Techniques for Ubiquity and Optimization

Multi-Agent Applications with Evolutionary Computation and Biologically Inspired Technologies: Intelligent Techniques for Ubiquity and Optimization PDF

Author: Chen, Shu-Heng

Publisher: IGI Global

Published: 2010-07-31

Total Pages: 384

ISBN-13: 1605668990

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"This book compiles numerous ongoing projects and research efforts in the design of agents in light of recent development in neurocognitive science and quantum physics, providing readers with interdisciplinary applications of multi-agents systems, ranging from economics to engineering"--Provided by publisher.

Knowledge Processing and Decision Making in Agent-Based Systems

Knowledge Processing and Decision Making in Agent-Based Systems PDF

Author: Lakhmi C Jain

Publisher: Springer Science & Business Media

Published: 2009-01-17

Total Pages: 325

ISBN-13: 3540880488

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Knowledge processing and decision making in agent-based systems constitute the key components of intelligent machines. The contributions included in the book are: Innovations in Knowledge Processing and Decision Making in Agent-Based Systems Towards Real-World HTN Planning Agents Mobile Agent-Based System for Distributed Software Maintenance Software Agents in New Generation Networks: Towards the Automation of Telecom Processes Multi-agent Systems and Paraconsistent Knowledge An Agent-based Negotiation Platform for Collaborative Decision-Making in Construction Supply Chain An Event-Driven Algorithm for Agents at the Web A Generic Mobile Agent Framework Toward Ambient Intelligence Developing Actionable Trading Strategies Agent Uncertainty Model and Quantum Mechanics Representation Agent Transportation Layer Adaptation System Software Agents to Enable Service Composition through Negotiation Advanced Technology Towards Developing Decentralized Autonomous Flexible Manufacturing Systems

Agent Technology and e-Health

Agent Technology and e-Health PDF

Author: Roberta Annicchiarico

Publisher: Springer Science & Business Media

Published: 2008-04-05

Total Pages: 153

ISBN-13: 3764385472

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Multi-agent systems are one of the most exciting research areas in Artificial Intelligence. This book reports on the results achieved in this area, discusses the benefits (and drawbacks) that agent-based systems may bring to medical domains and society, and also provides a list of the research topics that should be tackled in the near future to make the deployment of health-care agent-based systems a reality. Current topics of research include communication and co-operation between distributed intelligent agents to manage patient care.

Market Engineering

Market Engineering PDF

Author: Henner Gimpel

Publisher: Springer Nature

Published: 2021-04-26

Total Pages: 244

ISBN-13: 3030666611

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This open access book provides a broad range of insights on market engineering and information management. It covers topics like auctions, stock markets, electricity markets, the sharing economy, information and emotions in markets, smart decision-making in cities and other systems, and methodological approaches to conceptual modeling and taxonomy development. Overall, this book is a source of inspiration for everybody working on the vision of advancing the science of engineering markets and managing information for contributing to a bright, sustainable, digital world. Markets are powerful and extremely efficient mechanisms for coordinating individuals’ and organizations’ behavior in a complex, networked economy. Thus, designing, monitoring, and regulating markets is an essential task of today’s society. This task does not only derive from a purely economic point of view. Leveraging market forces can also help to tackle pressing social and environmental challenges. Moreover, markets process, generate, and reveal information. This information is a production factor and a valuable economic asset. In an increasingly digital world, it is more essential than ever to understand the life cycle of information from its creation and distribution to its use. Both markets and the flow of information should not arbitrarily emerge and develop based on individual, profit-driven actors. Instead, they should be engineered to serve best the whole society’s goals. This motivation drives the research fields of market engineering and information management. With this book, the editors and authors honor Professor Dr. Christof Weinhardt for his enormous and ongoing contribution to market engineering and information management research and practice. It was presented to him on the occasion of his sixtieth birthday in April 2021. Thank you very much, Christof, for so many years of cooperation, support, inspiration, and friendship.

Engineering Interrelated Electricity Markets

Engineering Interrelated Electricity Markets PDF

Author: Anke Weidlich

Publisher: Springer Science & Business Media

Published: 2008-10-08

Total Pages: 181

ISBN-13: 3790820687

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Due to the characteristics of electricity, power markets rank among the most complex markets operated at present. The requirements of an environmentally sustainable, economically efficient, and secure energy supply have resulted in the emergence of several interrelated markets that have to be carefully engineered in order to ensure efficient market outcomes. This book presents an agent-based simulation model that facilitates electricity market research. Simulation outcomes from this model are validated against price data from German power markets. The results significantly contribute to existing research in agent-based simulation and electricity market modeling, and provide insights into the impact of the market structure and market design on electricity prices. The book addresses researchers, lecturers and students who are interested in applying agent-based simulation to power markets. It provides a thorough discussion of the methodology and helpful details for model implementation.

Agent-Based Computational Economics

Agent-Based Computational Economics PDF

Author: Shu-Heng Chen

Publisher: Routledge

Published: 2017-09-19

Total Pages: 508

ISBN-13: 1317560922

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This book aims to answer two questions that are fundamental to the study of agent-based economic models: what is agent-based computational economics and why do we need agent-based economic modelling of economy? This book provides a review of the development of agent-based computational economics (ACE) from a perspective on how artificial economic agents are designed under the influences of complex sciences, experimental economics, artificial intelligence, evolutionary biology, psychology, anthropology and neuroscience. This book begins with a historical review of ACE by tracing its origins. From a modelling viewpoint, ACE brings truly decentralized procedures into market analysis, from a single market to the whole economy. This book also reviews how experimental economics and artificial intelligence have shaped the development of ACE. For the former, the book discusses how ACE models can be used to analyse the economic consequences of cognitive capacity, personality and cultural inheritance. For the latter, the book covers the various tools used to construct artificial adaptive agents, including reinforcement learning, fuzzy decision rules, neural networks, and evolutionary computation. This book will be of interest to graduate students researching computational economics, experimental economics, behavioural economics, and research methodology.

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