Experimental Market Mechanism Design for Double Auction

In this paper, we introduce an experimental approach to the design, analysis and implementation of market mechanisms based on double auction. We define a formal market model that specifies the market policies in a double auction market. Based on this model, we introduce a set of criteria for the evaluation of market mechanisms. We design and implement a set of market policies and test them with different experimental settings. The results of experiments provide us a better understanding of the interrelationship among market policies and also show that an experimental approach can greatly improve the efficiency and effectiveness of market mechanism design.

• Type: Conference
• Year: 2009
• Where: AUSAI
• Authors: Masabumi Furuhata, Laurent Perrussel, Jean-Marc Thévenin, Dongmo Zhang
• Keywords: Artificial Intelligence, AUSAI 2009, Market, Market Mechanism, Market Policies