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Evolution of market mechanism through a continuous space of auction-types
Keyword(s): genetic algorithm; market mechanism; zip traders; market design; mechanism design
Abstract: A continuous space of auction mechanisms is explored via a genetic algorithm, with ZIP artificial trading agents operating in the evolved markets. The space of possible auction-types includes the Continuous Double Auction and also two purely one-sided mechanisms, yet hybrids of these auction types can be found to give the most desirable market dynamics.
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