Multi-attribute exchange market: theory and experiments

  • Authors:
  • Eugene Fink;Josh Johnson;John Hershberger

  • Affiliations:
  • Computer Science, University of South Florida Tampa, Florida;Computer Science, University of South Florida Tampa, Florida;Computer Science, University of South Florida Tampa, Florida

  • Venue:
  • AI'03 Proceedings of the 16th Canadian society for computational studies of intelligence conference on Advances in artificial intelligence
  • Year:
  • 2003

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Abstract

The Internet has opened opportunities for efficient on-line trading, and researchers have developed algorithms for various auctions, as well as exchanges for standardized commodities; however, they have done little work on exchanges for complex nonstandard goods. We propose a formal model for trading complex goods, present an exchange system that allows traders to describe purchases and sales by multiple attributes, and give the results of applying it to a used-car market and corporate-bond market.