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Investigating e-Market Evolution

  • John Debenham
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 2329)

Abstract

A market is in equilibrium if there is no opportunity for risk-free, or low-risk, profit. The majority of real markets are not in equilibrium thus presenting the opportunity for novel forms of transactions to take advantage of such risk-free, or low-risk, profits. The introduction of such novel forms of transaction is an instance of market evolution. A project is investigating the market evolutionary process in a particular electronic market that has been constructed in an on-going collaborative research project between a university and a software house. The way in which actors (buyers, sellers and others) use the market will be influenced by the information available to them, including information drawn from outside the immediate market environment. In this experiment, data mining and filtering techniques are used to distil both individual signals drawn from the markets and signals from the Internet into meaningful advice for the actors. The goal of this experiment is first to learn how actors will use the advice available to them, and second how the market will evolve through entrepreneurial intervention. In this electronic market a multiagent process management system is used to manage all market transactions including those that drive the market evolutionary process.

Keywords

Multiagent System User Agent Business Process Management Electronic Market Data Mining Method 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2002

Authors and Affiliations

  • John Debenham
    • 1
  1. 1.University of TechnologySydney

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