Pub Date : 2017-10-01DOI: 10.1109/BESC.2017.8256353
P. Faliszewski
This is an accompanying paper for an invited presentation at the 4th International Conference on Behavioral, Economic, and Socio-Cultural Computing (BESC-2017): There are numerous situations where people (or, more broadly, agents) need to select a set of individuals based on preferences of these people (these agents). For example, democratic societies elect parliaments, judges in competitions choose finalists, companies choose their advisory boards. In this talk we argue that such settings can be modeled in the language of multiwinner elections. Specifically, in a multiwinner election we are given a set of candidates, a set of voters (with preferences over the candidates), and a target committee size. The goal is to choose a subset of candidates of a given size, in a way that is most satisfying for the voters. We show that exact meaning of the phrase “most satisfying” strongly depends on the context, but we argue that the language of committee scoring rules is sufficiently rich to capture many interesting interpretations of this phrase.
{"title":"How to choose a committee based on agents' preferences?","authors":"P. Faliszewski","doi":"10.1109/BESC.2017.8256353","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256353","url":null,"abstract":"This is an accompanying paper for an invited presentation at the 4th International Conference on Behavioral, Economic, and Socio-Cultural Computing (BESC-2017): There are numerous situations where people (or, more broadly, agents) need to select a set of individuals based on preferences of these people (these agents). For example, democratic societies elect parliaments, judges in competitions choose finalists, companies choose their advisory boards. In this talk we argue that such settings can be modeled in the language of multiwinner elections. Specifically, in a multiwinner election we are given a set of candidates, a set of voters (with preferences over the candidates), and a target committee size. The goal is to choose a subset of candidates of a given size, in a way that is most satisfying for the voters. We show that exact meaning of the phrase “most satisfying” strongly depends on the context, but we argue that the language of committee scoring rules is sufficiently rich to capture many interesting interpretations of this phrase.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"122 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125231115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-01DOI: 10.1109/BESC.2017.8256386
Chen Zhou, Feiyan Liu, Jianbo Gao, Changqing Song
Characterization of the dynamical evolution of important events around the globe has become increasingly important. For decades, political scientists have been collecting and analyzing political events of the form “country i took action a toward country j at time t” — known as dyadic events — in order to form and test theories of international relations, respond to crises of all kinds, among others. By constructing daily matrices from a massive political events data, the Global database of events, location (language), and tone (GDELT), which covers almost all the events occurring in the world since 1979 (so far over 400 million in total), we examine whether Bayesian Poisson Tensor Factorization (BPTF) can automatically extract events of interest, such as Paris terror attack 2015, from the sea of events collected by GDELT. For this purpose, we take all the news data in a period of two months from June to August 2016 as a sample, decompose it into 50 components automatically with BPTF. We find BPTF has largely successfully decomposed the mixed events into distinct components, including the conflicts between Palestine and Israel, violent attacks in Germany, Turkey and France, and the South China Sea Arbitration.
{"title":"Can Bayesian poisson tensor factorization automatically extract interesting events from massive media reports?","authors":"Chen Zhou, Feiyan Liu, Jianbo Gao, Changqing Song","doi":"10.1109/BESC.2017.8256386","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256386","url":null,"abstract":"Characterization of the dynamical evolution of important events around the globe has become increasingly important. For decades, political scientists have been collecting and analyzing political events of the form “country i took action a toward country j at time t” — known as dyadic events — in order to form and test theories of international relations, respond to crises of all kinds, among others. By constructing daily matrices from a massive political events data, the Global database of events, location (language), and tone (GDELT), which covers almost all the events occurring in the world since 1979 (so far over 400 million in total), we examine whether Bayesian Poisson Tensor Factorization (BPTF) can automatically extract events of interest, such as Paris terror attack 2015, from the sea of events collected by GDELT. For this purpose, we take all the news data in a period of two months from June to August 2016 as a sample, decompose it into 50 components automatically with BPTF. We find BPTF has largely successfully decomposed the mixed events into distinct components, including the conflicts between Palestine and Israel, violent attacks in Germany, Turkey and France, and the South China Sea Arbitration.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"86 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114465297","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-01DOI: 10.1109/BESC.2017.8256393
H. Yin, Ye Zhu
From the beginning of the new century, modern society gradually steps into the era of big data and information big bang with the popularity of computers and the Internet. Tourism industry is an important part of China's national economy, and some provinces and cities have been taking it as a pillar industry, a key industry and a pilot industry [1]. With people's income and consumption level being increasing, travel has become one of the important consumption components for most people. Despite the rapid development of tourism, the traditional tourism industry has been unable to meet the growing material and cultural needs of our people. And the use of big data and informatization in the tourism industry brings it a robust and healthy development. The corresponding policies also come into being. China National Tourism Administration proposed in 2011 we shall strive to achieve a comprehensive informatization and modernization of China's tourism industry within about 10 years. The year 2014 is assigned as “Year of China Intelligent Tourism”. China's tourism work conference in 2015 proposed that tourism should fully be integrated into the Internet age and China tourism industry should be armed with information technology. This has been taken as one of the top ten key tasks in “515 strategy” to be deploied. China put forward the “integration, application, security, security”, i.e. the “eight-character” policy, in the Thirteenth Five-Year Plan period, as China's tourism information of the main task. Many of the above policy formulation requires the use of big data, informatization to arm tourism industry, to promote the transformation and upgrading of its industrial structure, and finally we can achieve the purpose of “intelligent tourism”.
{"title":"The influence of big data and informatization on tourism industry","authors":"H. Yin, Ye Zhu","doi":"10.1109/BESC.2017.8256393","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256393","url":null,"abstract":"From the beginning of the new century, modern society gradually steps into the era of big data and information big bang with the popularity of computers and the Internet. Tourism industry is an important part of China's national economy, and some provinces and cities have been taking it as a pillar industry, a key industry and a pilot industry [1]. With people's income and consumption level being increasing, travel has become one of the important consumption components for most people. Despite the rapid development of tourism, the traditional tourism industry has been unable to meet the growing material and cultural needs of our people. And the use of big data and informatization in the tourism industry brings it a robust and healthy development. The corresponding policies also come into being. China National Tourism Administration proposed in 2011 we shall strive to achieve a comprehensive informatization and modernization of China's tourism industry within about 10 years. The year 2014 is assigned as “Year of China Intelligent Tourism”. China's tourism work conference in 2015 proposed that tourism should fully be integrated into the Internet age and China tourism industry should be armed with information technology. This has been taken as one of the top ten key tasks in “515 strategy” to be deploied. China put forward the “integration, application, security, security”, i.e. the “eight-character” policy, in the Thirteenth Five-Year Plan period, as China's tourism information of the main task. Many of the above policy formulation requires the use of big data, informatization to arm tourism industry, to promote the transformation and upgrading of its industrial structure, and finally we can achieve the purpose of “intelligent tourism”.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114571096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-01DOI: 10.1109/BESC.2017.8256374
Bogdan Gliwa, Anna Zygmunt, Bartosz Grabski, M. Stojkow, Dorota Żuchowska-Skiba
Finding social network communities (groups) is fundamental in understanding the properties of the whole network and better understanding human behavior. Many definitions of such structures have been proposed, and therefore, also a lot of algorithms for finding them. These algorithms differ in many aspects and each of them has additionally a number of parameters that need to be set apriori. The article presents a comparison of the results of using different algorithms for datasets that have a ground truth. Moreover, for nondeterministic algorithms, the variability of their results was also analyzed.
{"title":"Comparison of group discovery methods on datasets with ground-truth","authors":"Bogdan Gliwa, Anna Zygmunt, Bartosz Grabski, M. Stojkow, Dorota Żuchowska-Skiba","doi":"10.1109/BESC.2017.8256374","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256374","url":null,"abstract":"Finding social network communities (groups) is fundamental in understanding the properties of the whole network and better understanding human behavior. Many definitions of such structures have been proposed, and therefore, also a lot of algorithms for finding them. These algorithms differ in many aspects and each of them has additionally a number of parameters that need to be set apriori. The article presents a comparison of the results of using different algorithms for datasets that have a ground truth. Moreover, for nondeterministic algorithms, the variability of their results was also analyzed.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"71 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124771764","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
WeChat Moments has become an important way for Chinese people to access the latest news. And nationalistic sentiment seems to make some news spread very quickly and get a lot for people involved in, i.e. a viruses-like communication pattern. Is this true? In this study, by constructing cascade trees, we analyzed the diffusion patterns of 175 HTML5 web pages with a complete lifecycle on WeChat Moment during July, 2016. Each page was viewed by more than 10,000 users, and more than two hundred million users are involved in the spread of these pages in total. Results indicated that pages arousing nationalistic sentiment spread more rapidly, attract more sharing behavior, diffuse more like a virus and have a shorter lifespan than other kind of popular pages. Furthermore, this diffusion pattern depends on the credibility of information. Only for the information of high credibility, pages with nationalistic information tend to have deeper cascade trees, higher sharing ratio and spread faster.
{"title":"Can nationalistic information spread like virus?: A cascade tree analysis of diffusion pattern on WeChat moments","authors":"Lingnan He, Hao-Yu Yang, Zhiwei Lin, Kaisheng Lai, Zhi'an Zhang","doi":"10.1109/BESC.2017.8256400","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256400","url":null,"abstract":"WeChat Moments has become an important way for Chinese people to access the latest news. And nationalistic sentiment seems to make some news spread very quickly and get a lot for people involved in, i.e. a viruses-like communication pattern. Is this true? In this study, by constructing cascade trees, we analyzed the diffusion patterns of 175 HTML5 web pages with a complete lifecycle on WeChat Moment during July, 2016. Each page was viewed by more than 10,000 users, and more than two hundred million users are involved in the spread of these pages in total. Results indicated that pages arousing nationalistic sentiment spread more rapidly, attract more sharing behavior, diffuse more like a virus and have a shorter lifespan than other kind of popular pages. Furthermore, this diffusion pattern depends on the credibility of information. Only for the information of high credibility, pages with nationalistic information tend to have deeper cascade trees, higher sharing ratio and spread faster.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126793683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-01DOI: 10.1109/BESC.2017.8256382
Szymon Brandys, Umit Cakmak, Lukasz Cmielowski, Martin Solarski
This demo paper describes our approach to make the work of analytics teams in the enterprise environment easy. The paper introduces a SaaS platform, called IBM Data Science Experience, which enables such cross-functional teams to collaborate using various advanced algorithms for data analysis through a light-weight web interface. While the list of supported algorithms is growing, this paper focuses on two services that the platform supports, namely Watson Machine Learning and Decision Optimization, and illustrates their use in an example.
这篇演示论文描述了我们使分析团队在企业环境中工作变得更容易的方法。本文介绍了一个名为IBM Data Science Experience的SaaS平台，该平台使跨职能团队能够通过轻量级web界面使用各种高级算法进行数据分析。虽然支持的算法列表正在增长，但本文主要关注该平台支持的两种服务，即沃森机器学习和决策优化，并通过示例说明它们的使用。
{"title":"From model building to analytics solution in hours the enterprise platform for analytics teams","authors":"Szymon Brandys, Umit Cakmak, Lukasz Cmielowski, Martin Solarski","doi":"10.1109/BESC.2017.8256382","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256382","url":null,"abstract":"This demo paper describes our approach to make the work of analytics teams in the enterprise environment easy. The paper introduces a SaaS platform, called IBM Data Science Experience, which enables such cross-functional teams to collaborate using various advanced algorithms for data analysis through a light-weight web interface. While the list of supported algorithms is growing, this paper focuses on two services that the platform supports, namely Watson Machine Learning and Decision Optimization, and illustrates their use in an example.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"137 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133160025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-01DOI: 10.1109/BESC.2017.8256367
Bin Li, Lu Wang, Y. Wen, Xiaohe Chen, Yanhui Gu
The Chinese historical classics Zuo Zhuan is of great value to study the history between 722–468 BC. The persons in the literature and the places they have been to are typical topics in the studies of historical persons and events. However, the traditional full text retrieval is not sufficient for such studies, because either a person or a place usually has different names, and a name may refer to different entities. In this paper, we introduce our work on creating a database annotating each person and place with a unique ID. In addition, each place is tagged the name of today and the Geographic Information in Baidu Map. The database supplies full text, person and place multi-retrieval as well as social relations and events data. The personal travelling distances in Zuo Zhuan are also calculated.
{"title":"Discover social relations and activities from ancient Chinese history book Zuo Zhuan","authors":"Bin Li, Lu Wang, Y. Wen, Xiaohe Chen, Yanhui Gu","doi":"10.1109/BESC.2017.8256367","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256367","url":null,"abstract":"The Chinese historical classics Zuo Zhuan is of great value to study the history between 722–468 BC. The persons in the literature and the places they have been to are typical topics in the studies of historical persons and events. However, the traditional full text retrieval is not sufficient for such studies, because either a person or a place usually has different names, and a name may refer to different entities. In this paper, we introduce our work on creating a database annotating each person and place with a unique ID. In addition, each place is tagged the name of today and the Geographic Information in Baidu Map. The database supplies full text, person and place multi-retrieval as well as social relations and events data. The personal travelling distances in Zuo Zhuan are also calculated.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115752399","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-01DOI: 10.1109/BESC.2017.8256379
Jas Semrl, Alexandru Matei
In the fitness industry, rolling gym membership contracts allow customers to terminate a contract with little advanced notice. Customer churn prediction is a well known area in Machine Learning research. Many companies, however, face a data science skills gap when trying to translate this research onto their own datasets and IT infrastructure. In this paper we present a series of experiments that aim to predict customer behaviour, in order to increase gym utilisation and customer retention. We use two off-the-shelf machine learning platforms, so that we can evaluate whether these platforms, used by non ML experts, can help companies improve their services.
{"title":"Churn prediction model for effective gym customer retention","authors":"Jas Semrl, Alexandru Matei","doi":"10.1109/BESC.2017.8256379","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256379","url":null,"abstract":"In the fitness industry, rolling gym membership contracts allow customers to terminate a contract with little advanced notice. Customer churn prediction is a well known area in Machine Learning research. Many companies, however, face a data science skills gap when trying to translate this research onto their own datasets and IT infrastructure. In this paper we present a series of experiments that aim to predict customer behaviour, in order to increase gym utilisation and customer retention. We use two off-the-shelf machine learning platforms, so that we can evaluate whether these platforms, used by non ML experts, can help companies improve their services.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116848925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
It is widely accepted that breaking the geographical boundaries is one of the core features of the Internet, thus a question is that whether the population-level interaction network on social media has been out of the geographical constrains? Based on Sina microblog data of 94 cities in China in 2015, this study constructed the urban mentioned network of talking about each other, and explored the interaction characteristics of city- level mention network. Results showed that the density of a city mentioned by others is highly correlated with its economic development, while the density of a city initiatively mentioning others is negatively correlated with the economy. Further analysis indicated that the distance between cities is significantly negatively correlated with the density of mention, which is consistent with the Tobler's First Law of Geography. In addition, the density of mention is also significantly positively correlated with the GDP of the mentioned cities, but negatively related to the GDP of the mentioning city, which is both similar to and different from the Newton's Law and Gravity Model in international trading. We propose that the phenomenon of a city being mentioned is associated with the popularity and influence of the city, and the urban mention network follows the law of Analogous Gravity Model, which may be attributed to the psychological motivation such as social comparison.
{"title":"Who would prefer to mention you on the urban microblog mention network?: Evidence from Sina microblog data across 94 cities in China","authors":"Kaisheng Lai, Hao-Yu Yang, Lingnan He, Weiming Lu, Hao Chen","doi":"10.1109/BESC.2017.8256401","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256401","url":null,"abstract":"It is widely accepted that breaking the geographical boundaries is one of the core features of the Internet, thus a question is that whether the population-level interaction network on social media has been out of the geographical constrains? Based on Sina microblog data of 94 cities in China in 2015, this study constructed the urban mentioned network of talking about each other, and explored the interaction characteristics of city- level mention network. Results showed that the density of a city mentioned by others is highly correlated with its economic development, while the density of a city initiatively mentioning others is negatively correlated with the economy. Further analysis indicated that the distance between cities is significantly negatively correlated with the density of mention, which is consistent with the Tobler's First Law of Geography. In addition, the density of mention is also significantly positively correlated with the GDP of the mentioned cities, but negatively related to the GDP of the mentioning city, which is both similar to and different from the Newton's Law and Gravity Model in international trading. We propose that the phenomenon of a city being mentioned is associated with the popularity and influence of the city, and the urban mention network follows the law of Analogous Gravity Model, which may be attributed to the psychological motivation such as social comparison.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132944403","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-01DOI: 10.1109/BESC.2017.8256360
Jun Kiniwa, K. Kikuta, H. Sandoh
We consider a multiagent network model consisting of nodes and edges as cities and their links to neighbors, respectively. Each network node has an agent and priced goods and the agent can buy or sell goods in the neighborhood. Though every node may not have an equal price, we can show the prices will reach an equilibrium by iterating buy and sell operations. First, we present a framework of protocols in which each buying agent makes a bid to the lowest priced goods in the neighborhood; and each selling agent selects the highest bid (if any). In this situation, the number of bidding agents is uncertain if several selling agents exist in the neighborhood. Just like a usual auction, each agent has a value of goods and decides a bidding price from it. We apply equilibrium bidding strategies for the first-price auction and the second-price auction to our framework. called a first-price protocol and a second-price protocol, respectively. Though the best bidding strategies are derived from Bayesian-Nash equilibrium, which assumes the certain number of bidding agents in contrast to our model. So we consider an expected number of bidding agents by assuming their values are uniformly distributed over (0,1). Next, we examine whether or not the prices reach an equilibrium for the protocols. Finally, we show the second-price protocol outperforms the first-price protocol from a fund-spreading point of view. Our results have an application to a monetary policy and a management using agent information.
{"title":"Equilibrium bidding protocols for price stabilization in networks","authors":"Jun Kiniwa, K. Kikuta, H. Sandoh","doi":"10.1109/BESC.2017.8256360","DOIUrl":"https://doi.org/10.1109/BESC.2017.8256360","url":null,"abstract":"We consider a multiagent network model consisting of nodes and edges as cities and their links to neighbors, respectively. Each network node has an agent and priced goods and the agent can buy or sell goods in the neighborhood. Though every node may not have an equal price, we can show the prices will reach an equilibrium by iterating buy and sell operations. First, we present a framework of protocols in which each buying agent makes a bid to the lowest priced goods in the neighborhood; and each selling agent selects the highest bid (if any). In this situation, the number of bidding agents is uncertain if several selling agents exist in the neighborhood. Just like a usual auction, each agent has a value of goods and decides a bidding price from it. We apply equilibrium bidding strategies for the first-price auction and the second-price auction to our framework. called a first-price protocol and a second-price protocol, respectively. Though the best bidding strategies are derived from Bayesian-Nash equilibrium, which assumes the certain number of bidding agents in contrast to our model. So we consider an expected number of bidding agents by assuming their values are uniformly distributed over (0,1). Next, we examine whether or not the prices reach an equilibrium for the protocols. Finally, we show the second-price protocol outperforms the first-price protocol from a fund-spreading point of view. Our results have an application to a monetary policy and a management using agent information.","PeriodicalId":142098,"journal":{"name":"2017 International Conference on Behavioral, Economic, Socio-cultural Computing (BESC)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122448591","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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