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A grey-box approach to automated mechanism design

Niu, J and Cai, K and Parsons, S and Fasli, M and Yao, X (2012) 'A grey-box approach to automated mechanism design.' Electronic Commerce Research and Applications, 11 (1). 24 - 35. ISSN 1567-4223

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Abstract

This paper presents an approach to automated mechanism design in the domain of double auctions. We describe a novel parameterized space of double auctions, and then introduce an evolutionary search method that searches this space of parameters. The approach evaluates auction mechanisms using the framework of the TAC Market Design Game and relates the performance of the markets in that game to their constituent parts using reinforcement learning. Experiments show that the strongest mechanisms we found using this approach not only win the Market Design Game against known, strong opponents, but also exhibit desirable economic properties when they run in isolation. © 2011 Elsevier B.V. All rights reserved.

Item Type: Article
Subjects: Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Divisions: Faculty of Science and Health > Computer Science and Electronic Engineering, School of
Depositing User: Users 161 not found.
Date Deposited: 15 Aug 2012 11:42
Last Modified: 17 Aug 2017 18:09
URI: http://repository.essex.ac.uk/id/eprint/3576

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