A More Complex Market Scenario- Learning Agents

 

In this Section we extend the flexibility of the SMS by introducing auctions that reveal all information (i.e. bids) they have to all interested agents. The agents are free to ignore any of this added information. We also give the sellers the freedom to return a service of any quality. The only thing that will prevent them from doing this will be the fact that the buyers have the ability to learn, which they use for determining which seller to buy from and at what price. The scenario is the same as in Figure 1.




Jose M. Vidal
jmvidal@umich.edu
Tue Sep 30 14:35:40 EDT 1997