The mechanism design problem in economics is about
designing rules of interaction for market games which
aim to yield a globally desirable result in the face of
self-interested agents who may take advantage of the
mechanism in order to maximise their own individual
outcomes. This problem can be extremely complex.
Traditionally, economists have used game theory and
other formal methods to construct mechanism rules. In
this paper, we report on an alternative approach which
we hope will eventually yield more robust solutions
than the present analytical counterparts. Our
methodology views mechanism design as a multi-objective
optimisation problem and addresses the problem using
genetic programming. This paper reports on preliminary
work in this direction where we evolve an auction
pricing-rule for a continuous double auction using a
multi-objective fitness function.
%0 Report
%1 oai:CiteSeerPSU:554389
%A Phelps, Steve
%A Parsons, Simon
%A Sklar, Elizabeth
%A McBurney, Peter
%C UK
%D 2002
%K algorithms, auctions, computation, design, evolutionary genetic mechanism multi-objective optimisation programming,
%N ULCS-02-031
%T Applying Multi-Objective Evolutionary Computing to
Auction Mechanism Design
%U http://citeseer.ist.psu.edu/554389.html
%X The mechanism design problem in economics is about
designing rules of interaction for market games which
aim to yield a globally desirable result in the face of
self-interested agents who may take advantage of the
mechanism in order to maximise their own individual
outcomes. This problem can be extremely complex.
Traditionally, economists have used game theory and
other formal methods to construct mechanism rules. In
this paper, we report on an alternative approach which
we hope will eventually yield more robust solutions
than the present analytical counterparts. Our
methodology views mechanism design as a multi-objective
optimisation problem and addresses the problem using
genetic programming. This paper reports on preliminary
work in this direction where we evolve an auction
pricing-rule for a continuous double auction using a
multi-objective fitness function.
%Z The Pennsylvania State University CiteSeer Archives
@techreport{oai:CiteSeerPSU:554389,
abstract = {The mechanism design problem in economics is about
designing rules of interaction for market games which
aim to yield a globally desirable result in the face of
self-interested agents who may take advantage of the
mechanism in order to maximise their own individual
outcomes. This problem can be extremely complex.
Traditionally, economists have used game theory and
other formal methods to construct mechanism rules. In
this paper, we report on an alternative approach which
we hope will eventually yield more robust solutions
than the present analytical counterparts. Our
methodology views mechanism design as a multi-objective
optimisation problem and addresses the problem using
genetic programming. This paper reports on preliminary
work in this direction where we evolve an auction
pricing-rule for a continuous double auction using a
multi-objective fitness function.},
added-at = {2008-06-19T17:46:40.000+0200},
address = {UK},
annote = {The Pennsylvania State University CiteSeer Archives},
author = {Phelps, Steve and Parsons, Simon and Sklar, Elizabeth and McBurney, Peter},
biburl = {https://www.bibsonomy.org/bibtex/2a70802e39eff39e533690f1e6dbc6548/brazovayeye},
citeseer-isreferencedby = {oai:CiteSeerPSU:92933},
citeseer-references = {oai:CiteSeerPSU:534053; oai:CiteSeerPSU:280312;
oai:CiteSeerPSU:255684; oai:CiteSeerPSU:345471;
\cite{oai:CiteSeerPSU:531021}; oai:CiteSeerPSU:342213},
institution = {Department of Computer Science, University of
Liverpool},
interhash = {1f705f8da40f473ed71c152398a9d0bf},
intrahash = {a70802e39eff39e533690f1e6dbc6548},
keywords = {algorithms, auctions, computation, design, evolutionary genetic mechanism multi-objective optimisation programming,},
language = {en},
number = {ULCS-02-031},
oai = {oai:CiteSeerPSU:554389},
rights = {unrestricted},
size = {6 pages},
timestamp = {2008-06-19T17:49:29.000+0200},
title = {Applying Multi-Objective Evolutionary Computing to
Auction Mechanism Design},
url = {http://citeseer.ist.psu.edu/554389.html},
year = 2002
}