Economics and Computation (TEAC)


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ACM Transactions on Economics and Computation, Volume 1 Issue 3, September 2013

A Practical Liquidity-Sensitive Automated Market Maker
Abraham Othman, David M. Pennock, Daniel M. Reeves, Tuomas Sandholm
Article No.: 14
DOI: 10.1145/2509413.2509414

Automated market makers are algorithmic agents that enable participation and information elicitation in electronic markets. They have been widely and successfully applied in artificial-money settings, like some Internet prediction markets....

The Price of Uncertainty
Maria-Florina Balcan, Avrim Blum, Yishay Mansour
Article No.: 15
DOI: 10.1145/2509413.2509415

In this work, we study the degree to which small fluctuations in costs in well-studied potential games can impact the result of natural best-response and improved-response dynamics. We call this the Price of Uncertainty and study it in a...

Deconstructing Amazon EC2 Spot Instance Pricing
Orna Agmon Ben-Yehuda, Muli Ben-Yehuda, Assaf Schuster, Dan Tsafrir
Article No.: 16
DOI: 10.1145/2509413.2509416

Cloud providers possessing large quantities of spare capacity must either incentivize clients to purchase it or suffer losses. Amazon is the first cloud provider to address this challenge, by allowing clients to bid on spare capacity and by...

Competitive Shopbots-Mediated Markets
David Sarne
Article No.: 17
DOI: 10.1145/2509413.2509417

This article considers markets mediated by autonomous self-interested comparison-shopping agents. As in today’s markets, the agents do not charge buyers for their services but rather benefit from payments obtained from sellers upon the...