The effect of mediated partnerships in two-sided economic search

Philip Hendrix; David Sarne

doi:10.1007/978-3-540-75119-9_16

The effect of mediated partnerships in two-sided economic search

Philip Hendrix, David Sarne

Harvard University

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

2 Scopus citations

Abstract

In this paper we investigate the effect of mediated partnerships over agents' equilibrium strategies in two-sided economic search. A mediated partnership is formed when an agent acts as a mediator, establishing a partnership between a pair of agents it encountered along its search, thereby reducing the other agents' amount of search. Surprisingly, this reduction in market friction induced by mediated partnerships does not always improve market efficiency. Use of mediated partnerships changes the equilibrium strategies used by agents in two-sided search models and introduces substantial computational complexity. This computational complexity is overcome with an innovative algorithm that facilitates equilibrium calculation.

Original language	English
Title of host publication	Cooperative Information Agents XI - 11th International Workshop, CIA 2007, Proceedings
Publisher	Springer Verlag
Pages	224-240
Number of pages	17
ISBN (Print)	9783540751182
DOIs	https://doi.org/10.1007/978-3-540-75119-9_16
State	Published - 2007
Externally published	Yes
Event	11th International Workshop on Cooperative Information Agents, CIA 2007 - Delft, Netherlands Duration: 19 Sep 2007 → 21 Sep 2007

Publication series

Name	Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume	4676 LNAI
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Conference

Conference	11th International Workshop on Cooperative Information Agents, CIA 2007
Country/Territory	Netherlands
City	Delft
Period	19/09/07 → 21/09/07

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10.1007/978-3-540-75119-9_16

Cite this

Hendrix, P., & Sarne, D. (2007). The effect of mediated partnerships in two-sided economic search. In Cooperative Information Agents XI - 11th International Workshop, CIA 2007, Proceedings (pp. 224-240). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 4676 LNAI). Springer Verlag. https://doi.org/10.1007/978-3-540-75119-9_16

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abstract = "In this paper we investigate the effect of mediated partnerships over agents' equilibrium strategies in two-sided economic search. A mediated partnership is formed when an agent acts as a mediator, establishing a partnership between a pair of agents it encountered along its search, thereby reducing the other agents' amount of search. Surprisingly, this reduction in market friction induced by mediated partnerships does not always improve market efficiency. Use of mediated partnerships changes the equilibrium strategies used by agents in two-sided search models and introduces substantial computational complexity. This computational complexity is overcome with an innovative algorithm that facilitates equilibrium calculation.",

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Hendrix, P & Sarne, D 2007, The effect of mediated partnerships in two-sided economic search. in Cooperative Information Agents XI - 11th International Workshop, CIA 2007, Proceedings. Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 4676 LNAI, Springer Verlag, pp. 224-240, 11th International Workshop on Cooperative Information Agents, CIA 2007, Delft, Netherlands, 19/09/07. https://doi.org/10.1007/978-3-540-75119-9_16

The effect of mediated partnerships in two-sided economic search. / Hendrix, Philip; Sarne, David.
Cooperative Information Agents XI - 11th International Workshop, CIA 2007, Proceedings. Springer Verlag, 2007. p. 224-240 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 4676 LNAI).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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Hendrix P, Sarne D. The effect of mediated partnerships in two-sided economic search. In Cooperative Information Agents XI - 11th International Workshop, CIA 2007, Proceedings. Springer Verlag. 2007. p. 224-240. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). doi: 10.1007/978-3-540-75119-9_16

The effect of mediated partnerships in two-sided economic search

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