Automated Commerce

Automating markets and trading fulfills a central step in the more comprehensive automation of commerce activity generally.  We have therefore devoted significant effort to developing and deploying auctions and related market infrastructure (Lochner and Wellman, 2004, Wurman et al., 1998a, Wurman et al., 1998b), and to characterizing the auction design space (Wurman et al., 2001). Formalizing the available mechanisms opens the possibility of automating the formulation of customized auction mechanisms for particular contract-negotiation episodes (Reeves et al., 2002).