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Trade determination in multi-attribute exchanges

Raju, CVL and Narahari, Y and Ravikumar, K (2003) Trade determination in multi-attribute exchanges. In: IEEE International Conference on E-Commerce, 2003. CEC 2003, JUN 24-27, 2003, Newport Beach, California.

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Electronic exchanges are double-sided marketplaces that allow multiple buyers to trade with multiple sellers, with aggregation of demand and supply across the bids to maximize the revenue in the market. Two important issues in the design of exchanges are (1) trade determination (determining the number of goods traded between any buyer-seller pair) and (2) pricing. In this paper we address the trade determination issue for one-shot, multi-attribute exchanges that trade multiple units of the same good. The bids are configurable with separable additive price functions over the attributes and each function is continuous and piecewise linear. We model trade determination as mixed integer programming problems for different possible bid structures and show that even in two-attribute exchanges, trade determination is NP-hard for certain bid structures. We also make some observations on the pricing issues that are closely related to the mixed integer formulations.

Item Type: Conference Paper
Publisher: IEEE
Additional Information: Copyright 2003 IEEE. Personal use of this material is permitted.However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.
Department/Centre: Division of Electrical Sciences > Computer Science & Automation
Date Deposited: 16 Mar 2012 12:21
Last Modified: 16 Mar 2012 12:21
URI: http://eprints.iisc.ac.in/id/eprint/43789

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