TY - GEN
T1 - Competitive comparison-shopping mediated markets
AU - Sarne, David
PY - 2009
Y1 - 2009
N2 - This paper considers markets mediated by self-interested comparison shopping agents. The comparative search conducted by the agents is driven by incentives offered by sellers, the cost incurred by the search, and competition dynamics that arise in the multi-agent setting. Based on models of economic search theory, the paper provides a formal analysis of the strategies used by the agents and the corresponding expected buyers' expense and sellers' net revenue. Equilibrium analysis is given for homogeneous environments in which all agents share the same search characteristics. Using this latter environment, it is demonstrated how the transition to competitive comparison-shopping mediated market can in some cases result both with lower expected expense to buyers and higher expected net revenue to sellers.
AB - This paper considers markets mediated by self-interested comparison shopping agents. The comparative search conducted by the agents is driven by incentives offered by sellers, the cost incurred by the search, and competition dynamics that arise in the multi-agent setting. Based on models of economic search theory, the paper provides a formal analysis of the strategies used by the agents and the corresponding expected buyers' expense and sellers' net revenue. Equilibrium analysis is given for homogeneous environments in which all agents share the same search characteristics. Using this latter environment, it is demonstrated how the transition to competitive comparison-shopping mediated market can in some cases result both with lower expected expense to buyers and higher expected net revenue to sellers.
KW - Agent-mediated markets
KW - Multiagent systems
UR - http://www.scopus.com/inward/record.url?scp=84856875830&partnerID=8YFLogxK
U2 - 10.1109/wi-iat.2009.183
DO - 10.1109/wi-iat.2009.183
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AN - SCOPUS:84856875830
SN - 9780769538013
T3 - Proceedings - 2009 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2009
SP - 387
EP - 394
BT - Proceedings - 2009 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2009
T2 - 2009 IEEE/WIC/ACM International Conference on Web Intelligence and Intelligent Agent Technology, WI-IAT 2009
Y2 - 15 September 2009 through 18 September 2009
ER -