Who to listen to: Exploiting information quality in a ZIP-agent Market

(2005) Who to listen to: Exploiting information quality in a ZIP-agent Market At TADA-05 Workshop on Trading Agent Design and Analysis; Nineteenth International Joint Conference on Artificial Intelligence , pp. 28-34.

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Market theory is often concerned only with centralised markets. In this paper, we consider a market that is distributed over a network, allowing us to characterise spatially (or temporally) segregated markets. The effect of this modification on the behaviour of a market populated by simple trading agents was examined. It was demonstrated that an agent’s ability to identify the optimum market price is positively correlated with its network connectivity. A better connected agent receives more information and, as a result, is better able to judge the market state. The ZIP trading agent algorithm is modified in light of this result. Simulations reveal that trading agents which take account of the quality of the information that they receive are better able to identify the optimum price within a market.

Item Type: Conference or Workshop Item (Paper)
Additional Information: Event Dates: July 30 - August 5, 2005
ePrint ID: 263460
Date Deposited: 15 Feb 2007
Last Modified: 31 Mar 2016 14:07
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/263460

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