Markets without Makers : A Framework for Decentralized Economic Coordination in Multiagent Systems

Titelangaben

Eymann, Torsten:
Markets without Makers : A Framework for Decentralized Economic Coordination in Multiagent Systems.
In: Fiege, Ludger ; Mühl, Gero ; Wilhelm, Uwe (Hrsg.): Electronic Commerce : second international workshop, WELCOM 2001, Heidelberg, Germany, November 16 - 17, 2001 ; proceedings. - Berlin : Springer , 2001 . - S. 63-74 . - (Lecture Notes in Computer Science ; 2232 )
ISBN 3-540-42878-X
DOI: https://doi.org/10.1007/3-540-45598-1_8

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Abstract

Most electronic marketplaces are derived from a client/server model, with a central coordinator institution in the middle and a closed group of market participants submitting bids and asks to that institution. In contrast, technical views on electronic commerce often envision ad-hoc cooperation between market participants in open and decentralized IT environments, where software agents negotiate for their human principals. Such environments will naturally form unregulated market-coordinated multi-agent systems with selfish agents negotiating for utility maximization, and they need concepts for decentralized economic coordination - a mechanism for distributed resource allocation that works without a market maker, with maximum privacy, security and coherent coordination as result. This article describes a framework used for the realization of a multiagent system which coordinates a supply chain using a decentralized economic approach.