Believable electronic trading environments on the Web

Contemporary Web-based electronic markets reflect the dominating content-based systems approach of Web 2.0. Though useful, these electronic markets are far from being believable trading places. Marketplace is where things and traders have presence, constituting a rich interaction space. The believability of the place depends on the believability of the presence and interactions in it, including the players behaviour and the narrative scenarios of the marketplace. This paper discusses what constitutes the believability of electronic marketplaces and presents the technologies that support it. Believability of electronic marketplaces can be described through three metaphors: marketplaces where people are, marketplaces that are alive and engaging, and market places where information is valuable and useful. The paper presents the core technologies that enable the perceivable believability of electronic marketplaces. It describes a demonstrable prototype of a Web-based electronic marketplace that integrates these technologies. This is part of a larger project that aims to make informed automated trading an enjoyable reality of Web 3.0

Trusted operational scenarios - Trust building mechanisms and strategies for electronic marketplaces.

This document presents and describes the trusted operational scenarios, resulting from the research and work carried out in Seamless project. The report presents identified collaboration habits of small and medium enterprises with low e-skills, trust building mechanisms and issues as main enablers of online business relationships on the electronic marketplace, a questionnaire analysis of the level of trust acceptance and necessity of trust building mechanisms, a proposal for the development of different strategies for the different types of trust mechanisms and recommended actions for the SEAMLESS project or other B2B marketplaces.trust building mechanisms, trust, B2B networks, e-marketplaces

Prediction Strategy for E-Commerce Price Negotiation

Automated negotiation plays an important role in dynamic trading online, especially in B2C e-commerce, as it is crucially useful for the online merchants to achieve better trading outcomes and save vast trading cost. To address the critical issue, this paper develops a prediction strategy that using linear regression to predict the opponent’s future offer trend, the theoretical model and the algorithm are proposed. To demonstrate the effectiveness of this model, we develop a prototype and conduct computer-computer automated negotiation to make comparison with the previous negotiation strategy model. The experimental result shows that the agent with our newly designed strategy model can significantly increase the agreement rate and joint outcome of the both sides

Proceedings of RSEEM 2006 : 13th Research Symposium on Emerging Electronic Markets

Electronic markets have been a prominent topic of research for the past decade. Moreover, we have seen the rise but also the disappearance of many electronic marketplaces in practice. Today, electronic markets are a firm component of inter-organisational exchanges and can be observed in many branches. The Research Symposium on Emerging Electronic Markets is an annual conference bringing together researchers working on various topics concerning electronic markets in research and practice. The focus theme of the13th Research Symposium on Emerging Electronic Markets (RSEEM 2006) was ?Evolution in Electronic Markets?. Looking back at more than 10 years of research activities in electronic markets, the evolution can be well observed. While electronic commerce activities were based largely on catalogue-based shopping, there are now many examples that go beyond pure catalogues. For example, dynamic and flexible electronic transactions such as electronic negotiations and electronic auctions are enabled. Negotiations and auctions are the basis for inter-organisational trade exchanges about services as well as products. Mass customisation opens up new opportunities for electronic markets. Multichannel electronic commerce represents today?s various requirements posed on information and communication technology as well as on organisational structures. In recent years, service-oriented architectures of electronic markets have enabled ICT infrastructures for supporting flexible e-commerce and e-market solutions. RSEEM 2006 was held at the University of Hohenheim, Stuttgart, Germany in September 2006. The proceedings show a variety of approaches and include the selected 8 research papers. The contributions cover the focus theme through conceptual models and systems design, application scenarios as well as evaluation research approaches

On the Design of Artificial Stock Markets

Artificial stock markets are designed with the aim to study and understand market dynamics by representing (part of) real stock markets. Since there is a large variety of real stock markets with several partially observable elements and hidden processes, artificial markets differ regarding their structure and implementation. In this paper we analyze to what degree current artificial stock markets reflect the workings of real stock markets. In order to conduct this analysis we set up a list of factors which influence market dynamics and are as a consequence important to consider for designing market models. We differentiate two categories of factors: general, well-defined aspects that characterize the organization of a market and hidden aspects that characterize the functioning of the markets and the behaviour of the traders

Interaction and communication among autonomous agents in multiagent systems

The main goal of this doctoral thesis is to investigate a fundamental topic of research within the Multiagent Systems paradigm: the problem of defining open, heterogeneous, and dynamic interaction frameworks. That is to realize interaction systems where multiple agents can enter and leave dynamically and where no assumptions are made on the internal structure of the interacting agents. Such topic of research has received much attention in the past few years. In particular the need to realize applications where artificial agents can interact negotiate, exchange information, resources, and services has become more and more important thanks to the advent of Internet. I started my studies by developing a trading agent that took part to an international trading on-line game: the First Trading Agent Competition (TAC). During the design and development phase of the trading agent some crucial and critical troubles emerged: the problem of accurately understanding the rules that govern the different auctions; and the problem of understanding the meaning of the numerous messages. Another general problem is that the internal structure of the developed trading agent have been strongly determined by the peculiar interface of the interaction system, consequently without any changes in its code, it would not be able to take part to any other competition on the Web. Furthermore the trading agent would not have been able to exploit opportunities, to handle unexpected situations, or to reason about the rules of the various auctions, since it is not able to understand the meaning o the exchanged messages. The presence of all those problems bears out the need to find a standard common accepted way to define open interaction systems. The most important component of every interaction framework, as is remarked also by philosophical studies on human communication is the institution of language. Therefore I start to investigate the problem of defining a standard and common accepted semantics for Agent Communication Languages (ACL). The solutions proposed so far are at best partial, and are considered as unsatisfactory by a large number of specialists. In particular, they are unable to support verifiable compliance to standards and to make agents responsible for their communicative actions. Furthermore such proposals make the strong assumption that every interacting agent may be modeled as a Belief-Desire-Intention agent. What is required is an approach focused on externally observable events as opposed to the unobservable internal states of agents. Following Speech Act Theory that views language use as a form of action, I propose an operational specification for the definition of a standard ACL based on the notion of social commitment. In such a proposal the meaning of basic communicative acts is defined as the effect that it has on the social relationship between the sender and the receiver described through operation on an unambiguous, objective, and public "object": the commitment. The adoption of the notion of commitment is crucial to stabilize the interaction among agents, to create an expectation on other agents behavior, to enable agents to reason about their and other agents actions. The proposed ACL is verifiable, that is, it is possible to determine if an agent is behaving in accordance to its communicative actions; the semantics is objective, independent of the agent's internal structure, flexible and extensible, simple, yet enough expressive. A complete operational specification of an interaction framework using the proposed commitment-based ACL is presented. In particular some sample applications of how to use the proposed framework to formalize interaction protocols are reported. A list of soundness conditions to test if a protocol is sound is proposed

Aggregation and the Role of Trusted Third Parties in SME E-Business Engagement: A Regional Policy Issue

YesIt is against the background of low engagement by SMEs in e-business that this paper seeks to highlight the potential importance of aggregation and of the role of trusted third parties in facilitating higher levels of involvement. The paper is based on an ongoing SME e-business research programme and reports on some recent research on SMEs that were using high complexity e-business applications and explores the extent to which the research findings could address the core concern of low engagement. This qualitative case study based research includes analysis of data collected from 13 community intermediaries, acting as trusted third parties. It concludes that the role of community intermediaries appears to be central to the adoption of critical e-aggregation applications provided by service providers. For policymakers, this important role of critical e-aggregation applications in facilitating e-business engagement by SMEs has emerged as part of this research but there is limited evidence of policy initiatives that reflect this