continuous double auction

In recent years a huge number of online auctions that use Multi Agent systems have been created. As a result there are numerous auctions that provide the same product. In this case each customer can buy a product with the lowest possible price. But searching between auctions in terms of finding the suitable product can be time consuming for consumers and also providing products in different markets is a difficult task for suppliers. So the need for an autonomous agent in these types of markets is deeply felt. On the other side the structure of an auction mechanism that provides the environment for traders to operate their trades is vital. Despite all the research that has been done about online auctions, most of them were about single markets. But in real world the stocks and commodities of companies are listed and traded in different markets. There is a growing tendency towards research about online auctions and Market Design. Particularly in recent years CAT (CATallactics) game ha...

Gode and Sunder's (1993) results from using "zero-intelligence" (zi) traders, that act randomly within a structured market, appear to imply that convergence to the theoretical equilibrium price in continuous double-auction markets is determined more by market structure than by the intelligence of the traders in that market. However, it is demonstrated here that the average transaction prices of zi traders can vary significantly from the theoretical equilibrium value when the market supply and demand are asymmetric, and that the degree of difference from equilibrium is predictable from a priori probabilistic analysis. In this sense, it is shown here that Gode and Sunder's results are artefacts of their experimental regime. Following this, `zero-intelligence-plus' (zip) traders are introduced: like zi traders, these simple agents make stochastic bids. Unlike zi traders, they employ an elementary form of machine learning. Groups of zip traders interacting in exper...

Market-oriented approach is an effective method for resource management because of its regulation of supply and demand and is suitable for cloud environment where the computing resources, either software or hardware, are virtualized and allocated as services from providers to users. In this paper a continuous double auction method for efficient cloud service allocation is presented in which i) enables consumers to order various resources (services) for workflows and co-allocation, ii) consumers and providers make bid and request prices based on deadline and workload time and in addition providers can tradeoff between utilization time and price of bids, iii) auctioneers can intelligently find optimum matching by sharing and merging resources which result more trades. Experimental results show that proposed method is efficient in terms of successful allocation rate and resource utilization.

Summary. We start from the fact, that individual behaviour is always mediated by social re-lations. A heuristic is not good or bad, rational or irrational, but only relative to an institutional environment. Thus for a given environment, the Continuous Double Action (CDA) market, ...

As computational agents are developed for increasingly complicated e-commerce applications, the complexity of the decisions they face demands advances in artificial intelligence techniques. For example, an agent representing a seller in an auction should try to maximize the seller?s profit by reasoning about a variety of possibly uncertain pieces of information, such as the maximum prices various buyers might be willing to pay, the possible prices being offered by competing sellers, the rules by which the auction operates, the dynamic arrival and matching of offers to buy and sell, and so on. A naive application of multiagent reasoning techniques would require the seller?s agent to explicitly model all of the other agents through an extended time horizon, rendering the problem intractable for many realistically-sized problems. We have instead devised a new strategy that an agent can use to determine its bid price based on a more tractable Markov chain model of the auction process. W...

In this paper we explore how specific aspects of market transparency and agents’ behavior affect the efficiency of the market outcome. In particular, we are interested whether learning behavior with and without information about actions of other participants improves market efficiency. We consider a simple market for a homogeneous good populated by buyers and sellers. The valuations of the buyers and the costs of the sellers are given exogenously. Agents are involved in consecutive trading sessions, which are organized as a continuous double auction with order book. Using Individual Evolutionary Learning agents submit price bids and offers, trying to learn the most profitable strategy by looking at their realized and counterfactual or “foregone” payoffs. We find that learning outcomes heavily depend on information treatments. Under full information about actions of others, agents’ orders tend to be similar, while under limited information agents tend to submit their valuations/costs...

As computational agents are developed for increasingly complicated e-commerce applications, the complexity of the decisions they face demands advances in artificial intelligence techniques. For example, an agent representing a seller in an auction should try to maximize the seller?s profit by reasoning about a variety of possibly uncertain pieces of information, such as the maximum prices various buyers might be willing to pay, the possible prices being offered by competing sellers, the rules by which the auction operates, the dynamic arrival and matching of offers to buy and sell, and so on. A naive application of multiagent reasoning techniques would require the seller?s agent to explicitly model all of the other agents through an extended time horizon, rendering the problem intractable for many realistically-sized problems. We have instead devised a new strategy that an agent can use to determine its bid price based on a more tractable Markov chain model of the auction process. W...