Equilibria strategies for selecting sellers and satisfying buyers

Claudia V. Goldman, Sarit Kraus, Onn Shehory

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

6 Scopus citations


Dynamism of trade activity inevitably results in situations where sellers face local supply shortages. In such cases, sellers need to decide which buyer purchase requests to satisfy. Commonly, sellers satisfy purchase requests based on their arrival order, i.e., First In is First Served (FIFS). In electronic trade, sellers may follow strategies different from FIFS without the buyers being able to detect this difference. Buyers, in response to the sellers' strategic behavior, may themselves adopt strategies that will maximize their utility. Previous research has suggested strategies to be used by electronic seller-agents and buyeragents. Yet, that research examined markets in which buyers are willing to accept partial satisfaction of their request and sellers' stocks are all the same. A simulation tool was developed under such conditions. This paper utilizes the simulation tool to explore equilibria in more realistic markets, where sellers' stocks are heterogeneous, and buyers suffer significant losses from partial satisfaction of their requests.

Original languageEnglish
Title of host publicationCooperative Information Agents V - 5th International Workshop, CIA 2001, Proceedings
EditorsMatthias Klusch, Franco Zambonelli
PublisherSpringer Verlag
Number of pages12
ISBN (Electronic)3540425454, 9783540425458
StatePublished - 2001
Event5th International Workshop on Cooperative Information Agents, CIA 2001 - Modena, Italy
Duration: 6 Sep 20018 Sep 2001

Publication series

NameLecture Notes in Artificial Intelligence (Subseries of Lecture Notes in Computer Science)
ISSN (Print)0302-9743


Conference5th International Workshop on Cooperative Information Agents, CIA 2001

Bibliographical note

Publisher Copyright:
© Springer-Verlag Berlin Heidelberg 2001.


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