Learning Business Strategies for Competitive Electronic Marketplaces

Abstract

This paper presents a Multi-Agent Market simulator designed for developing new agent market strategies based on a complete understanding of buyer and seller behaviors, preference models and pricing algorithms, considering user risk preferences and game theory for scenario analysis.This tool studies negotiations based on different market mechanisms and, time and behavior dependent strategies. The results of the negotiations between agents are analyzed by data mining algorithms in order to extract rules that give agents feedback to improve their strategies.The system also includes agents that are capable of improving their performance with their own experience, by adapting to the market conditions, and capable of considering other agent reactions.