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Trading in open marketplace using trust and risk

Lam, Yuk Hei, Zhang, Zili and Ong, Kok-Leong 2005, Trading in open marketplace using trust and risk, in IEEE/WIC/ACM International Conference on Intelligent Agent Technology : proceedings : Compiègne University of Technology, France, September 19-22, 2005, IEEE Computer Society, Los Alamitos, Calif., pp. 471-474.

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Title Trading in open marketplace using trust and risk
Author(s) Lam, Yuk Hei
Zhang, Zili
Ong, Kok-Leong
Conference name IEEE/WIC/ACM International Conference on Intelligent Agent Technology (2005 : Compiègne, France)
Conference location Compiègne, France
Conference dates 19-22 September 2005
Title of proceedings IEEE/WIC/ACM International Conference on Intelligent Agent Technology : proceedings : Compiègne University of Technology, France, September 19-22, 2005
Editor(s) Skowron, A.
Barthes, J.
Jain, L.
Sun, R.
Morizet-Mahoudeaux, P.
Lui, J.
Zhong, N.
Publication date 2005
Conference series IEEE/WIC/ACM International Conference on Intelligent Agent Technology
Start page 471
End page 474
Publisher IEEE Computer Society
Place of publication Los Alamitos, Calif.
Summary In this paper, we propose buying and selling models for agents to trade in the open multi-agent marketplace. Unlike auctions, we take into account of the fact that agents trading in such open environments has to maximize their profits and at the same time, protect themselves from fraud and deception. We attempt to address this issue by incorporating the element of trust and risk management into our proposed buying and selling model. During buying, agents learn to select their partners based on the trustworthiness of the potential partner as well as its personal risk attitude. During selling, agents learn to increase the chances of winning a deal by adjusting their profit rate, which is a measure that considers both trust and risk. The novelty of this proposal is that it ensures agents continuing to seek maximum expected utility in a dynamic trading environment. Our experimental results confirm the feasibility of our approach.
Notes This material is presented to ensure timely dissemination of scholarly and technical work. Copyright and all rights therein are retained by authors or by other copyright holders. All persons copying this information are expected to adhere to the terms and constraints invoked by each author's copyright. In most cases, these works may not be reposted without the explicit permission of the copyright holder.
ISBN 0769524168
9780769524160
Language eng
Field of Research 080699 Information Systems not elsewhere classified
HERDC Research category E1 Full written paper - refereed
Copyright notice ©2005, IEEE
Persistent URL http://hdl.handle.net/10536/DRO/DU:30005839

Document type: Conference Paper
Collections: School of Information Technology
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