Deakin University
Browse
zhang-supportingadaptivelearning-2005.pdf (449.19 kB)

Trading in open marketplace using trust and risk

Download (449.19 kB)
conference contribution
posted on 2005-01-01, 00:00 authored by Y Lam, Zili ZhangZili Zhang, Kok-Leong Ong
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.

History

Pagination

471 - 474

Location

Compiègne, France

Open access

  • Yes

Start date

2005-09-19

End date

2005-09-22

ISBN-13

9780769524160

ISBN-10

0769524168

Language

eng

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.

Publication classification

E1 Full written paper - refereed

Copyright notice

2005, IEEE

Editor/Contributor(s)

A Skowron, J Barthes, L Jain, R Sun, P Morizet-Mahoudeaux, J Lui, N Zhong

Title of proceedings

IEEE/WIC/ACM International Conference on Intelligent Agent Technology : proceedings : Compiègne University of Technology, France, September 19-22, 2005

Usage metrics

    Research Publications

    Categories

    No categories selected

    Keywords

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC