Work

An Evolutionary Framework for Determining Heterogeneous Strategies in Multi-Agent Marketplaces

Year: 2008

Type: report

Abstract: We propose an evolutionary approach for studying the dynamics of interaction of strategic agents that interact in a marketplace. The goal is to learn which agent strategies are most suited by observing the distribution of the agents that survive in the market over extended periods of time. We present experimental results from a simulated market, where multiple service providers compete for customers using different deployment and pricing schemes. The results show that heterogeneous strategies evolve and co-exist in the same market.

Source: RePub (Erasmus University Rotterdam)

Authors: Alexander Babanov, Wolfgang Ketter, Maria Gini

Institutions: University of Minnesota, University of Cologne, Institute of Energy Economics at the University of Cologne, Erasmus University Rotterdam

Language: English

Topic: Evolutionary Game Theory and Cooperation

Subfield: Sociology and Political Science

Field: Social Sciences

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2154277952

Cites: 15

Cited by:

Related to: 10