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

Análisis bibliométrico de la producción científica sobre Economía Experimental

La Economía Experimental (EE) es un método de trabajo de la Economía del comportamiento que desarrolla modelos teóricos de comportamiento humano en ámbitos económicos. Los experimentos económicos tienen ya una larga tradición, y han proporcionado resultados espectaculares y conclusiones ampliamente admitidas sobre la dinámica de mercados y el efecto de las instituciones económicas. Las nuevas tecnologías facilitan la realización y el análisis de estos experimentos. El objetivo principal de este estudio es la revisión sistemática de la producción científica sobre Economía Experimental, desde el año 1990 hasta finales de 2021, en las bases de datos de Web of Science Core Collection y Scopus. El análisis descriptivo de datos se realizó con el software Rstudio, mientras que el análisis de redes se hizo con el software Vosviewer. El estudio muestra, entre otras cosas, que la producción bibliográfica en este campo se ha intensificado exponencialmente; así como, que el país con más investigaciones es Estados Unidos y el autor más citado es Urs Fischbacher.Experimental Economics (EE) is a working method of behavioral economics that develops theoretical models of human behavior in economic settings. Economic experiments have a long tradition, and have provided spectacular results and widely accepted conclusions about market dynamics and the effect of economic institutions. New technologies facilitate the conduct and analysis of these experiments. The main objective of this study is the systematic review of the scientific production on Experimental Economics, from 1990 to the end of 2021, in the Web of Science Core Collection and Scopus databases. Descriptive data analysis was performed with Rstudio software, while network analysis was performed with Vosviewer software. The study shows, among other things, that the bibliographic production in this field has intensified exponentially; as well as, that the country with the most research is 2 the United States and the most cited author is Urs Fischbacher.Universidad de Sevilla. Doble Grado en Matemáticas y Estadístic

Experiments in Designing Computational Economies For Mobile Users

Distributed operating systems provide users with transparent access to networkwide resources. As changes occur to network resources or as user locations and preferences evolve, the system must be able to adapt by reallocating, replicating, or moving its resources. We explore a market-based approach to resource allocation in suchenvironments, and describe initial experiments in designing and building computational markets for distributed operating system resources. We focus on the problem of redistributing network file allocations for a mobile user population in order to improvelocality and accessibility