Evolution of Market Mechanism Through a Continuous Space of Auciton-types II: Two-sided Auction Mechanisms Evolve in Response to Market Shocks

@inproceedings{Cliff2002EvolutionOM,
  title={Evolution of Market Mechanism Through a Continuous Space of Auciton-types II: Two-sided Auction Mechanisms Evolve in Response to Market Shocks},
  author={Dave Cliff},
  booktitle={International Conference on Internet Computing},
  year={2002}
}
  • Dave Cliff
  • Published 2002 in International Conference on Internet Computing
This paper describes the use of a genetic algorithm (GA) to find parameter-values for trading agents that operate in virtual “e-marketplaces”, where the rules of the marketplaces are also under simultaneous control of the GA. The aim is to use the GA to automatically design new agent-based e-marketplaces that are more efficient than markets designed by (or populated by) humans. Das et al. (2001) recently demonstrated that ZIP software-agent traders consistently outperform human traders in… CONTINUE READING
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