Combining bundle search with buyer coalition formation in electronic markets: A distributed approach through explicit negotiation Academic Article

abstract

• In electronic markets, both bundle search and buyer coalition formation are profitable purchasing strategies for buyers who need to buy small amount of goods and have no or limited bargaining power. In this paper, we present a distributed mechanism that allows buyers to use both purchasing strategies. The mechanism includes a heuristic bundle search algorithm and a distributed coalition formation scheme, which is based on an explicit negotiation protocol with low communication cost. The resulting coalitions are stable in the core in terms of coalition rationality. The simulation results show that this mechanism is very efficient. The resulting cost to buyers is close to the optimal cost. 2005 Elsevier B.V. All rights reserved.

authors

• Ioerger, Thomas

published proceedings

• ELECTRONIC COMMERCE RESEARCH AND APPLICATIONS

author list (cited authors)

• He, L., & Ioerger, T. R.

citation count

• 17

complete list of authors

• He, Linli||Ioerger, Thomas R

publication date

• December 2005

publisher

• Elsevier  Publisher

published in

• Electronic Commerce Research and Applications  Journal

keywords

• Automated Negotiation
• Bundle Search
• Coalition Formation

Digital Object Identifier (DOI)

• 10.1016/j.elerap.2005.06.006

start page

• 329

end page

• 344

volume

• 4

issue

• 4

URL

• http://dx.doi.org/10.1016/j.elerap.2005.06.006