An agent oriented business model for e-commerce based on the NYSE specialist system
Kenneth Griggs · 2000
The rapid development of commerce on the World Wide Web has been accompanied by the creation of new business models and customer relationships involving the use of intelligent software agents. Agents are characterized by autonomy, perception, and intelligence and have been used primarily for search and data mining activities on the Web. A parallel trend in electronic commerce is the development of auction markets in contrast to traditional fixed posted price models. Web based auction markets are structured on the “English Auction” model where a reserve price is established and bids are increased until the market is cleared.