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A Game-Theoretic Analysis of Market Selection Strategies for Competing Double Auction Marketplaces

Record type: Conference or Workshop Item (Paper)

In this paper, we propose a novel general framework for analysing competing double auction markets that vie for traders, who then need to choose which market to go to. Based on this framework, we analyse the competition between two markets in detail. Specifically, we game-theoretically analyse the equilibrium behaviour of traders' market selection strategies and adopt evolutionary game theory to investigate how traders dynamically change their strategies, and thus, which equilibrium, if any, can be reached. In so doing, we show that it is unlikely for these competing markets to coexist. Eventually, all traders will always converge to locating themselves at one of the markets. Somewhat surprisingly, we find that sometimes all traders converge to the market that charges higher fees. Thus we further analyse this phenomenon, and specifically determine the factors that affect such migration.

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Citation

Shi, Bing, Gerding, Enrico H., Vytelingum, Perukrishnen and Jennings, Nicholas R. (2010) A Game-Theoretic Analysis of Market Selection Strategies for Competing Double Auction Marketplaces At 9th International Conference on Autonomous Agents and Multi-Agent Systems (AAMAS2010), Canada. 14 - 18 May 2010. , pp. 857-864.

More information

Published date: 2010
Additional Information: Event Dates: 14th-18th May
Venue - Dates: 9th International Conference on Autonomous Agents and Multi-Agent Systems (AAMAS2010), Canada, 2010-05-14 - 2010-05-18
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 268467
URI: http://eprints.soton.ac.uk/id/eprint/268467
PURE UUID: dd61e289-db19-4b28-b049-43e1761b7ab4

Catalogue record

Date deposited: 04 Feb 2010 13:51
Last modified: 18 Jul 2017 06:53

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Contributors

Author: Bing Shi
Author: Enrico H. Gerding
Author: Perukrishnen Vytelingum
Author: Nicholas R. Jennings

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