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Markets without Makers - A Framework for Decentralized Economic Coordination in Multiagent Systems

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Electronic Commerce (WELCOM 2001)

Part of the book series: Lecture Notes in Computer Science ((LNCS,volume 2232))

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Abstract

Most electronic marketplaces are derived from a client/server model, with a central coordinator institution in the middle and a closed group of market participants submitting bids and asks to that institution. In contrast, technical views on electronic commerce often envision ad-hoc cooperation between market participants in open and decentralized IT environments, where software agents negotiate for their human principals. Such environments will naturally form unregulated market-coordinated multi-agent systems with selfish agents negotiating for utility maximization, and they need concepts for decentralized economic coordination - a mechanism for distributed resource allocation that works without a market maker, with maximum privacy, security and coherent coordination as result. This article describes a framework used for the realization of a multiagent system which coordinates a supply chain using a decentralized economic approach.

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Author information

Authors and Affiliations

  1. Albert-Ludwigs-Universität Freiburg, IIG Telematik, 79085, Freiburg, Germany

    Torsten Eymann

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  1. Torsten Eymann
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Editor information

Editors and Affiliations

  1. Darmstadt University of Technology, Wilhelminenstr.7, 64283, Darmstadt, Germany

    Ludger Fiege  & Gero Mühl  & 

  2. T-Nova, Otto-Röhm-Str.71C, 64293, Darmstadt, Germany

    Uwe Wilhelm

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Eymann, T. (2001). Markets without Makers - A Framework for Decentralized Economic Coordination in Multiagent Systems. In: Fiege, L., Mühl, G., Wilhelm, U. (eds) Electronic Commerce. WELCOM 2001. Lecture Notes in Computer Science, vol 2232. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-45598-1_8

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  • DOI: https://doi.org/10.1007/3-540-45598-1_8

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  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-42878-7

  • Online ISBN: 978-3-540-45598-1

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