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Presently, a multiplicity of trading systems provide electronic markets with various market rules to professional and private investors in different sectors. This range only partially reflects the individual requirements dependent on the type of product and the environmental context of the trade. There is need for individual solutions satisfying these(More)
Electronic markets facilitate the trade of various products between individual traders. Both, the products’ individual characteristics and the market participants preferences make specific demands on the market model. This results in trading identical products in different markets. The concept of combining market models allows the traders to participate in(More)
  • Ilka Weber
  • 2005 Symposium on Applications and the Internet…
  • 2005
Internet auctions like Amazon or eBay use an ascending bid auction as the basic auction format. This basic auction format can be augmented by various price features: the First Bidder Discount is one example. In a First Bidder Discount auction the bidder receives a discount on the price to pay if the bidder was the first to place a bid. The objective of this(More)
One of the main contributions of classical mechanism design is the derivation of the Groves mechanisms. The class of Groves mechanisms are the only mechanisms that are strategy-proof and more importantly allocative efficient. The VCG mechanism retains its properties for combinatorial allocation problems. From a computational perspective the VCG has to solve(More)
Designing and conceptualizing electronic auction systems is a complex task dependent on human, economic, and technical factors. In this paper, we propose a way to simplify that design task and reduce complexity. Using the two software engineering approaches "abstraction" and "divide and conquer" we show how these approaches can be mapped into auction(More)
Today’s financial electronic markets are a result of the remarkable development in information technology during the last years. With the growth of electronization in financial markets and the establishment of new electronic trading services the design of the market structure moved in the focus of interest. Design decisions determine the market(More)
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