Download Adaptive Bidding in Single-Sided Auctions Under Uncertainty: by Clemens van Dinther PDF

By Clemens van Dinther

In the final years digital markets, particularly on-line auctions, became very hot and obtained an increasing number of realization in either, enterprise (B2B) in addition to in public perform (B2C and C2C). technological know-how, notwithstanding, remains to be faraway from having studied all phenomena and results which are saw on digital markets. This ebook exhibits that and the way software program brokers can be utilized to simulate bidding behaviour in digital auctions. the most emphasis of this ebook is to use computational economics to industry concept. It summarizes the commonest and up to date agent-based simulation tools and instruments and develops the simulation software program AMASE. On foundation of the brought equipment a version is tested to simulate bidding behaviour lower than uncertainty.

The ebook addresses researchers, machine scientists, economists and scholars who're drawn to utilising agent-based computational the way to digital markets. It is helping to profit extra approximately simulations in economics ordinarily and customary agent-based equipment and instruments specifically.

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Extra info for Adaptive Bidding in Single-Sided Auctions Under Uncertainty: An Agent-based Approach in Market Engineering

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G. through simulations or experiments. 38 Chapter 2. 3 Computer Aided Market Engineering Neumann [2004] proposes Computer Aided Market Engineering (CAME) to computationally support the design, development, and implementation of electronic markets. 4 illustrates the CAME process, comprising the four phases (i) design, (ii) configuration, (iii) test, (iv) operation. According to the ME process, CAME starts with the design of an electronic market.

I N ). A system environment together with a market institution defines a market as a microeconomic system. The market (system) consists of actors (economic agents), their characteristics, commodities, a language for communication, and some sets of distinct rules for the organization of the system. 5. 1: An electronic market as a microeconomic system. The microeconomic system framework was introduced to describe markets in general. Neumann [2004] points out that with respect to electronic markets the framework has to be extended.

I N ). A system environment together with a market institution defines a market as a microeconomic system. The market (system) consists of actors (economic agents), their characteristics, commodities, a language for communication, and some sets of distinct rules for the organization of the system. 5. 1: An electronic market as a microeconomic system. The microeconomic system framework was introduced to describe markets in general. Neumann [2004] points out that with respect to electronic markets the framework has to be extended.

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