mWater prototype review

This document reviews our current water policy-making decision-support framework, build on top of a regulated open Multi-Agent System (MAS),mWater [BGG+10, GGG+11], that models a flexible water-rights market. Our simulator focuses on the effect of regulations on demand and thus provides means to explore the interplay of norms and conventions that regulate trading (like trader eligibility conditions, tradeable features of rights, trading periods and price-fixing conventions), the assumptions about agent behaviour (individual preferences and risk attitude, or population profile mixtures) and market scenarios (water availability and use restrictions). A policy-maker would then assess the effects of those interactions by observing the evolution of the performance indicators (efficiency of use, price dynamics, welfare functions) (s)he designs. 1.2 OurBotti Navarro, VJ.; Garrido Tejero, A.; Giret Boggino, AS.; Noriega, P. (2013). mWater prototype review. http://hdl.handle.net/10251/3212

Automated Markets and Trading Agents

Computer automation has the potential, just starting to be realized, of transforming the design and operation of markets, and the behaviors of agents trading in them. We discuss the possibilities for automating markets, presenting a broad conceptual framework covering resource allocation as well as enabling marketplace services such as search and transaction execution. One of the most intriguing opportunities is provided by markets implementing computationally sophisticated negotiation mechanisms, for example combinatorial auctions. An important theme that emerges from the literature is the centrality of design decisions about matching the domain of goods over which a mechanism operates to the domain over which agents have preferences. When the match is imperfect (as is almost inevitable), the market game induced by the mechanism is analytically intractable, and the literature provides an incomplete characterization of rational bidding policies. A review of the literature suggests that much of our existing knowledge comes from computational simulations, including controlled studies of abstract market designs (e.g., simultaneous ascending auctions), and research tournaments comparing agent strategies in a variety of market scenarios. An empirical game-theoretic methodology combines the advantages of simulation, agent-based modeling, and statistical and game-theoretic analysis.http://deepblue.lib.umich.edu/bitstream/2027.42/49510/1/ace_galleys.pd

mWater prototype #2 analysis and design

mWater is a regulated open MAS that uses intelligent agents to manage a flexible water-right market. One of the main goals of mWater is to be used as a simulator to assist in decision-taking processes for policy makers. Our simulator focuses on demands and, in particular, on the type of regulatory (in terms of norms selection and agents behaviour), and market mechanisms thatBotti Navarro, VJ.; Criado Pacheco, N.; Garrido Tejero, A.; Gimeno, J.; Giret Boggino, AS.; Noriega, P. (2013). mWater prototype #2 analysis and design. http://hdl.handle.net/10251/3212