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Published in:
2008 | OriginalPaper | Chapter
Introduction
Published in: Bidding Strategies in Agent-Based Continuous Double Auctions
Publisher: Birkhäuser Basel
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With the advent of global computer networks, in particular the Internet and the World Wide Web, electronic commerce (e-commerce) has been taking an increasingly important role in many organizations [50]. It provides a faster, cheaper, more personalized, and more agile way for businesses to interact with their customers and their suppliers. Auctions of various kinds are efficient mechanisms to allocate resources in electronic commerce. In this context, online auctions, institutions where goods are traded on the Internet by the process of bidding and allocating through competition, are among the most widely studied and employed means of interaction [5]. Such online auctions are prevalent because they are an efficient and effective method of allocating goods or services [128], [103], [93].