Trading Agents Negotiation in Business Management using Demand Functions: Simulation Experiments with Binomial Distribution
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F14%3A%230002610" target="_blank" >RIV/47813059:19520/14:#0002610 - isvavai.cz</a>
Result on the web
<a href="http://www.sciencedirect.com/science/article/pii/S1877050914011673" target="_blank" >http://www.sciencedirect.com/science/article/pii/S1877050914011673</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.procs.2014.08.202" target="_blank" >10.1016/j.procs.2014.08.202</a>
Alternative languages
Result language
angličtina
Original language name
Trading Agents Negotiation in Business Management using Demand Functions: Simulation Experiments with Binomial Distribution
Original language description
The aim of this paper is to propose an experimental business management approach to cover a seller-to-customer price negotiation in an agent-based simulations. The core element in this approach is the price negotiation. We used Marshallian demand function and a Cobb-Douglas utility function in the negotiation process. Moreover, multi-agent model is proposed and implemented in Jade development platform. Its task is to serve as a simulation framework for the trading processes execution. The main background of this framework is to be integrated in management information systems as a decision support module for a prediction of key performance indicators of a virtual company. A binomial distribution was used in presented experiments to simulate the quantityof negotiated commodities. The paper firstly presents some of the existing principles about consumer behavior, agent-based modeling and simulation in the same area and demand function theory. Secondly, presents multi-agent model and dema
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
IN - Informatics
OECD FORD branch
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Result continuities
Project
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Continuities
O - Projekt operacniho programu
Others
Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Knowledge-Based and Intelligent Information @ Engineering Systems 18th Annual Conference, Procedia Computer Science
ISBN
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ISSN
1877-0509
e-ISSN
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Number of pages
9
Pages from-to
1436-1444
Publisher name
Elsevier
Place of publication
London
Event location
Gdynia
Event date
Sep 15, 2014
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000345394100152