Proceedings of the third annual conference on Autonomous Agents
Automated strategy searches in an electronic goods market: learning and complex price schedules
Proceedings of the 1st ACM conference on Electronic commerce
Proceedings of the 1st ACM conference on Electronic commerce
Dynamic pricing by software agents
Computer Networks: The International Journal of Computer and Telecommunications Networking - electronic commerce
Price wars and niche discovery in an information economy
Proceedings of the 2nd ACM conference on Electronic commerce
Equilibratory Approach to Distributed Resource Allocation: Toward Coordinated Balancing
MAAMAW '92 Selected papers from the 4th European Workshop on on Modelling Autonomous Agents in a Multi-Agent World, Artificial Social Systems
Learning Curve: A Simulation-Based Approach to Dynamic Pricing
Electronic Commerce Research
Efficient Exploration In Reinforcement Learning
Efficient Exploration In Reinforcement Learning
Adaptive load balancing: a study in multi-agent learning
Journal of Artificial Intelligence Research
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Price wars 驴 the iterative undercutting of prices to the marginal cost by competitors 驴 have frequently emerged in models of economic systems populated by computational agents. In this paper, we explore the prevalence and severity of price wars in models of multiagent ecommerce systems that include costs and limitations on interagent communication. The empirical results we describe in this paper indicate that, for a stationary consumer population, limiting the rate of penetration of price information can reduce the severity of price wars, and that charging producer agents for communication can in fact curtail price-undercutting before prices (and profits) bottom out. Furthermore, prices (and profits) do not bottom out for non-stationary consumer populations, where in fact cyclic price wars can arise.