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Buying and selling with insurance in open multi-agent marketplace
journal contribution
posted on 2006-02-20, 00:00 authored by Y H Lam, Zili ZhangZili Zhang, Kok-Leong OngIn this paper, we incorporate the insurance concept in buying and selling model for agents to trade in the open multi-agent marketplace. During buying, agents purchase insurance as a method to search for potential sellers and select their partners based on the information provided by insurance agents. During selling, agents purchase insurance as a method to protect themselves against potential risk. The insurance concept greatly simplifies the trading procedure in the open marketplace. The novelty of this proposal is that it ensures a dynamic trading environment while agents continue to seek maximum utility and being fully protected by insurance. Our experimental results confirm the feasibility of our approach.
History
Journal
Lecture notes in computer scienceVolume
4099Pagination
945 - 949Publisher
Springer-VerlagLocation
Berlin, GermanyPublisher DOI
ISSN
0302-9743eISSN
1611-3349Language
engNotes
Book Title: PRICAI 2006: Trends in Artificial IntelligencePublication classification
C1 Refereed article in a scholarly journalCopyright notice
2006, Springer-Verlag Berlin HeidelbergUsage metrics
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