An Internet Trading Platform for Testing Auction and Exchange Mechanisms

Abstract

In this paper, we present a generic electronic market platform that is designed to run different kinds of auctions and exchanges. Researchers can use the platform to implement different electronic market mechanisms, simulate the market behavior of their interests, and experiment with it. A generic OR/XOR bidding language that can express different OR/XOR combinations is implemented for Web interfaces. Different auctions, including combinatorial auctions, multiple-round reverse auctions, and multiple homogeneous good auctions, have been built and run successfully on the platform.