scholarly journals An Agent Based Market Design Methodology for Combinatorial Auctions

2010 ◽  
Vol 13 (2) ◽  
Author(s):  
Jinho Choi ◽  
Gyoo Gun Lim ◽  
Kun Chang Lee
Keyword(s):  
Design Methodology ◽  
Market Design ◽  
Combinatorial Auctions ◽  
Agent Based

Agent-based mechanism design – investigating bounded rationality concepts in a budgeting context

2017 ◽  
Vol 23 (1/2) ◽  
pp. 13-27 ◽  
Author(s):  
Iris Lorscheid ◽  
Matthias Meyer
Keyword(s):  
Mechanism Design ◽  
Bounded Rationality ◽  
Human Behavior ◽  
Design Methodology ◽  
Content Type ◽  
Agent Based ◽  
Decision Context ◽  
Agent Learning ◽  
Groves Mechanism ◽  
Research Questions

Purpose This study aims to demonstrate how agent-based simulation (ABS) may provide a computational testbed for mechanism design using concepts of bounded rationality (BR). ABS can be used to systematically derive and formalize different models of BR. This allows us to identify the cognitive preconditions for behavior intended by the mechanism and thereby to derive implications for the design of mechanisms. Design/methodology/approach Based on an analysis of the requirements of the decision context, the authors describe a systematic way of incorporating different BR concepts into an agent learning model. The approach is illustrated by analyzing an incentive scheme suggested for truthful reporting in budgeting contexts, which is an adapted Groves mechanism scheme. Findings The study describes systematic ways in which to derive BR agents for research questions where behavioral aspects might matter. The authors show that BR concepts may lead to other outcomes than the intended truth-inducing effect. A modification of the mechanism to more distinguishable levels of payments improves the results in terms of the intended effect. Research limitations/implications The presented BR concepts as simulated by agent models cannot model human behavior in its full complexity. The simplification of complex human behavior is a useful analytical construct for the controlled analysis of a few aspects and an understanding of the potential consequences of those aspects of human behavior for mechanism design. Originality/value The paper specifies the idea of a computational testbed for mechanism design based on BR concepts. Beyond this, a systematic and stepwise approach is shown to formalize bounded rational behavior by agents based on a requirements analysis, including benchmark models for the comparison and evaluation of BR concepts.

scholarly journals Agent-based modelling and economic complexity: a diversified perspective

2019 ◽  
Vol 26 (2) ◽  
pp. 170-188 ◽  
Author(s):  
Christophe Schinckus
Keyword(s):  
Design Methodology ◽  
Scientific Literature ◽  
Economic Systems ◽  
Content Type ◽  
Agent Based ◽  
Agent Based Modelling ◽  
Economic Complexity ◽  
Epistemic Function ◽  
Micro Foundations

PurposeThe term “agent-based modelling” (ABM) is a buzzword which is widely used in the scientific literature even though it refers to a variety of methodologies implemented in different disciplinary contexts. The numerous works dealing with ABM require a clarification to better understand the lines of thinking paved by this approach in economics. All modelling tasks are a means and a source of knowledge, and this epistemic function can vary depending on the methodology. this paper is to present four major ways (deductive, abductive, metaphorical and phenomenological) of implementing an agent-based framework to describe economic systems. ABM generates numerous debates in economics and opens the room for epistemological questions about the micro-foundations of macroeconomics; before dealing with this issue, the purpose of this paper is to identify the kind of ABM the author can find in economics.Design/methodology/approachThe profusion of works dealing with ABM requires a clarification to understand better the lines of thinking paved by this approach in economics. This paper offers a conceptual classification outlining the major trends of ABM in economics.FindingsThere are four categories of ABM in economics.Originality/valueThis paper suggests a methodological categorization of ABM works in economics.

ANALYZING THE AGENT-BASED MODEL AND ITS IMPLICATIONS

2003 ◽  
Vol 06 (03) ◽  
pp. 331-347 ◽  
Author(s):  
YUTAKA I. LEON SUEMATSU ◽  
KEIKI TAKADAMA ◽  
NORBERTO E. NAWA ◽  
KATSUNORI SHIMOHARA ◽  
OSAMU KATAI
Keyword(s):  
Social Sciences ◽  
Internal Structure ◽  
Design Methodology ◽  
Social Systems ◽  
Agent Based Model ◽  
Social Phenomena ◽  
Agent Based ◽  
Individual Level ◽  
The Social ◽  
The Individual

Agent-based models (ABMs) have been attracting the attention of researchers in the social sciences, becoming a prominent paradigm in the study of complex social systems. Although a great number of models have been proposed for studying a variety of social phenomena, no general agent design methodology is available. Moreover, it is difficult to validate the accuracy of these models. For this reason, we believe that some guidelines for ABMs design must be devised; therefore, this paper is a first attempt to analyze the levels of ABMs, identify and classify several aspects that should be considered when designing ABMs. Through our analysis, the following implications have been found: (1) there are two levels in designing ABMs: the individual level, related to the design of the agents' internal structure, and the collective level, which concerns the design of the agent society or macro-dynamics of the model; and (2) the mechanisms of these levels strongly affect the outcomes of the models.

ICT service providers strategies and customer migration

2014 ◽  
Vol 114 (7) ◽  
pp. 1036-1049 ◽  
Author(s):  
Sang-Gun Lee ◽  
Silvana Trimi ◽  
Chang-Gyu Yang
Keyword(s):  
Design Methodology ◽  
Technology Innovation ◽  
Service Providers ◽  
Disruptive Technology ◽  
Simulation Approach ◽  
Mobile Telecommunication ◽  
Migration Patterns ◽  
Content Type ◽  
Agent Based ◽  
Ict Service

Purpose – The purpose of this paper is to investigate how ICT service providers’ strategies affect customer migration. Design/methodology/approach – Using a simulation approach and the agent-based model, this research explores how an incremental technology affects customer migration and changes the market structure. Findings – The authors found that a strategy of disruptive technology innovation not only helps a follower company increase its market share, but it also completely disrupts the market. Originality/value – This study investigates customer migration patterns in the saturated mobile telecommunication market based on service providers’ strategies.

scholarly journals Identifying the financial barriers to deliberative, affordable apartment development in Australia

2015 ◽  
Vol 8 (4) ◽  
pp. 471-483 ◽  
Author(s):  
Andrea Sharam ◽  
Lyndall Elaine Bryant ◽  
Thomas Alves
Keyword(s):  
Affordable Housing ◽  
Design Methodology ◽  
Market Design ◽  
Exchange Process ◽  
Residential Development ◽  
Development Model ◽  
Structured Interviews ◽  
Financial Barriers ◽  
Content Type ◽  
Innovative Solution

Purpose – The purpose of this paper is to identify the financial barriers to the supply of affordable apartments in Australia and examine whether demand aggregation and “deliberative development” (self-build) can form a new affordable housing “structure of provision”. Design/methodology/approach – Market design, an offshoot of game theory, is used to analyse the existing apartment development model, with “deliberative development” proposed as an innovative alternative. Semi-structured interviews with residential development financiers are used to evaluate whether deliberative development could obtain the requisite development finance. Findings – This investigation into the financial barriers of a deliberative development model suggests that, while there are hurdles, these can be addressed if key risks in the exchange process can be mitigated. Hence, affordability can be enhanced by “deliberative development” replacing the existing speculative development model. Research limitations/implications – Market design is a new innovative theoretical approach to understand the supply of housing, offering practical solutions to affordable apartment supply in Australia. Originality/value – This research identifies financial barriers to the supply of affordable apartments; introduces theoretical understandings gained from market design as an innovative solution; and provides evidence that a new structure of building provision based on “deliberative development” could become a key means of achieving more affordable and better designed apartments.

scholarly journals Improving the effectiveness of fire prevention using the “premonition” agent-based model of domestic fire risk behaviours

2019 ◽  
Vol 8 (3) ◽  
pp. 280-291
Author(s):  
Dermot Breslin ◽  
Stephen Dobson ◽  
Nicola Smith
Keyword(s):  
Design Methodology ◽  
Historical Data ◽  
Fire Risk ◽  
Content Type ◽  
Agent Based ◽  
Agent Based Modelling ◽  
Changing Patterns ◽  
Preventative Interventions ◽  
Repeat Visits ◽  
Modelling Approach

Purpose Understanding and predicting the behaviours of households within a community is a key concern for fire services as they plan to deliver effective and efficient public services. In this paper, an agent-based modelling approach is used to deepen understandings of changing patterns of behaviour within a community. The paper aims to discuss this issue. Design/methodology/approach This “Premonition” model draws on historical data of fire incidents and community interventions (e.g. home safety checks, fire safety campaigns, etc.) collated by South Yorkshire Fire and Rescue, UK, to unpack patterns of changing household behaviours within the region. Findings Findings from simulations carried out using the Premonition model, show that by targeting close-knit groups of connected households, the effectiveness of preventative interventions and utilisation of associated resources is enhanced. Furthermore, by repeating these interventions with the same households over time, risk factors within the wider area are further reduced. Originality/value The study thus shows that annual repeat visits to fewer and more targeted high-risk postcodes increase the overall reduction in risk within an area, when compared with a scattered coverage approach using one-off (i.e. not repeat) household visits within a postcode.

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