Related papers: Agent Based Trust Management Model Based on Weight…
We consider the fundamental problem of designing a truthful single-item auction with the challenging objective of extracting a large fraction of the highest agent valuation as revenue. Following a recent trend in algorithm design, we assume…
Auctions are key for maximizing sellers' revenue and ensuring truthful bidding among buyers. Recently, an approach known as differentiable economics based on machine learning (ML) has shown promise in learning powerful auction mechanisms…
Auction theories are believed to provide a better selling opportunity for the resources to be allocated. Various organizations have taken measures to increase trust among participants towards their auction system, but trust alone cannot…
Handling trust is one of the core requirements for facilitating effective interaction between the human and the AI agent. Thus, any decision-making framework designed to work with humans must possess the ability to estimate and leverage…
In this paper, we study behavior of bidders in an experimental launch of a new advertising auction platform by Zillow, as Zillow switched from negotiated contracts to using auctions in several geographically isolated markets. A unique…
We extend prior evidence that naively using intraday agent-based models that involve realistic order-matching processes for modeling continuous-time double auction markets seems to fail to be able to provide a robust link between data and…
The success of online auctions has given buyers access to greater product diversity with potentially lower prices. It has provided sellers with access to large numbers of potential buyers and reduced transaction costs by enabling auctions…
We present a novel agent-based approach to simulating an over-the-counter (OTC) financial market in which trades are intermediated solely by market makers and agent visibility is constrained to a network topology. Dynamics, such as changes…
This paper studies mechanism design for auctions with externalities on budgets, a novel setting where the budgets that bidders commit are adjusted due to the externality of the competitors' allocation outcomes-a departure from traditional…
In electronic marketplaces, after each transaction buyers will rate the products provided by the sellers. To decide the most trustworthy sellers to transact with, buyers rely on trust models to leverage these ratings to evaluate the…
Agent-based modelling and simulation offers a new and exciting way of understanding the world of work. In this paper we describe the development of an agent-based simulation model, designed to help to understand the relationship between…
Auction-based recommender systems are prevalent in online advertising platforms, but they are typically optimized to allocate recommendation slots based on immediate expected return metrics, neglecting the downstream effects of…
An agent-based modelling methodology for the joint price evolution of two stocks is put forward. The method models future multidimensional price trajectories reflecting how a class of agents rebalance their portfolios in an operational way…
In online advertising, a set of potential advertisements can be ranked by a certain auction system where usually the top-1 advertisement would be selected and displayed at an advertising space. In this paper, we show a selection bias issue…
We study the robust double auction mechanisms, that is, the double auction mechanisms that satisfy dominant strategy incentive compatibility, ex-post individual rationality and ex-post budget balance. We first establish that the price in…
Given a sample of bids from independent auctions, this paper examines the question of inference on auction fundamentals (e.g. valuation distributions, welfare measures) under weak assumptions on information structure. The question is…
Trust management provides an alternative solution for securing open, dynamic, and distributed multi-agent systems, where conventional cryptographic methods prove to be impractical. However, existing trust models face challenges related to…
We consider budget feasible mechanisms for procurement auctions with additive valuation functions. For the divisible case, where agents can be allocated fractionally, there exists an optimal mechanism with approximation guarantee $e/(e-1)$…
Based on criteria of mathematical simplicity and consistency with empirical market data, a model with volatility driven by fractional noise has been constructed which provides a fairly accurate mathematical parametrization of the data.…
This paper introduces a new negotiating agent model for automated negotiation. We focus on applications without time pressure with multidi-mensional negotiation on both continuous and discrete domains. The agent bidding strategy relies on…