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Flexible Decision Control in an Autonomous Trading Agent

Author

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  • Collins, J.
  • Ketter, W.
  • Gini, M.

Abstract

An autonomous trading agent is a complex piece of software that must operate in a competitive economic environment and support a research agenda. We describe the structure of decision processes in the MinneTAC trading agent, focusing on the use of evaluators – configurable, composable modules for data analysis and prediction that are chained together at runtime to support agent decision-making. Through a set of examples, we show how this structure supports sales and procurement decisions, and how those decision processes can be modified in useful ways by changing evaluator configurations. To put this work in context, we also report on results of an informal survey of agent design approaches among the competitors in the Trading Agent Competition for Supply Chain Management (TAC SCM).

Suggested Citation

  • Collins, J. & Ketter, W. & Gini, M., 2007. "Flexible Decision Control in an Autonomous Trading Agent," ERIM Report Series Research in Management ERS-2007-079-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    • Handle: RePEc:ems:eureri:10719
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    File URL: https://repub.eur.nl/pub/10719/ERS-2007-079-LIS.pdf
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    Cited by:

    1. Ketter, W. & van Heck, H.W.G.M. & Zuidwijk, R.A., 2010. "Intelligent Personalized Trading Agents that facilitate Real-time Decisionmaking for Auctioneers and Buyers in the Dutch Flower Auctions," ERIM Report Series Research in Management ERS-2010-016-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

    More about this item

    Keywords

    autonomous trading agent; decision processes;

    JEL classification:

    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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