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Title:
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EXTENDED CORE MODEL FOR E-MARKETS |
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Author(s):
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Pen-choug Sun , Michael Odetayo , Anne James , Nick Godwin |
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ISBN:
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978-972-8924-93-5 |
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Editors:
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Pedro Isaías, Bebo White and Miguel Baptista Nunes |
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Year:
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2009 |
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Edition:
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1 |
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Keywords:
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Coalition, Core, Stability, E-Market, Shapley Value |
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Type:
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Full Paper |
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First Page:
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437 |
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Last Page:
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444 |
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Language:
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English |
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Cover:
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Full Contents:
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click to dowload 
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Paper Abstract:
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Trading in an e-marketplace has become an essential aspect of the daily lives of many people. Coalitions, which allow
traders to form teams, can sometimes accomplish things more efficiently than individuals. As group trading has become
increasingly popular in the e-market, concepts and algorithms for coalition formation have drawn much attention from
researchers in Multi-Agent Systems. However, most of the coalition schemes fail to check the stability of coalitions, or
reduce the computational complexity of forming stable coalitions. The core has become a popular solution concept in
economic applications for researchers in Computer Science, because it provides a way to find stable sets. However
certain problems of the core hinder researchers from applying it to a real world market. For instance, the core is difficult
to use in a large coalition because of its high computational complexity. Developing effective business models for emarket
can be a real challenge, because incentive compatibility, distributed computing, and less computational
complexity have to be considered at the same time. Numerous specialists are still endeavouring to do it. This paper
proposes a new extended core model, which involves bundle selling of composite services, offering amount discount in
group buying in the e-marketplace. Several service providers are involved in the transactions of bundle selling, while, on
the other hand, many buyers form coalitions for the amount discount in the model. Unlike the traditional core, cores are
combined together into a big core in the extended core model. An illustration of how the works is presented in the
scenario of a travel agent. The outcome of the scenario is evaluated with Pareto efficiency, and that shows the high
potential of the model. |
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