Double Auctions for Electronic Commerce Using Three Phase Commit

Abstract

A general family of auction mechanismsthat admit multiple buyers and sellers determinemarket-clearing prices. This system analyzes theeconomic incentives facing participants in suchauctions, demonstrating that, under someconditions, it is possible to induce truthfulrevelation of values by buyers or sellers. Thissystem performs a computational analysis of theauctioneer’s task using Three Phase Commit forprocessing bids and calculating allocations. Thissystem is implemented using ASP.netprogramming language