한국지능정보시스템학회:학술대회논문집 (Proceedings of the Korea Inteligent Information System Society Conference)
- 한국지능정보시스템학회 2007년도 추계학술대회
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- Pages.592-601
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- 2007
A Double Auction Model based on Nonlinear Utility Functions;Genetic Algorithms Approach for Market Optimization
초록
In the conventional double auction approaches, two basic assumptions are usually applied - (1) each trader has a linear or quasi-linear utility function of price and quantity, (2) buyers as well as sellers have identical utility functions. However, in practice, these assumptions are unrealisitc. Therefore, a flexible and integrated double auction mechanism that can integrate all traders' diverse utility functions is necessary. We propose a double auction mechanism with resource allocation based on nonlinear utility functions, namely a flexible synchronous double auction system where each participant can express a diverse utility function on the price and quantity. In order to optimize the total market utility consists of multiple complex utility functions of traders, our study proposes a genetic algorithm (GA) We show the viability of the proposed mechanism through several simulation experiments.