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Trading without Explicit Ontologies

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Agent-Mediated Electronic Commerce III (AMEC 2000)

Part of the book series: Lecture Notes in Computer Science ((LNAI,volume 2003))

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Abstract

Classical approaches to traders in middleware rely on a common language of server, clients, and traders to understand each other. In these systems, pre-defined ontologies play a crucial role. But when dealing with large-scale, open systems such ontologies are no longer available. To cope with this problem, we have developed a radically different approach to trading. Rather than relying 100% on a trader, we assume that traders provide only rough matches and that clients need to make intelligent choices to find a more suited service. To this end, we introduce the notion of trust, which evolves with the client’s experience. We implement a simulation of this trust-based trading system and run several test scenarios investigating the use of history and dynamic trust to discover the more suited services. Our analysis and simulation 1 indicate that intelligent clients and rough traders may considerably extend the scope of trading towards large-scale, open distributed systems.

The simulation is available at www.soi.city.ac.uk/homes/msch

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Author information

Authors and Affiliations

  1. Department of Computing, City University, EC1V 0HB, London, UK

    Michael Schroeder, Julie McCann & Daniel Haynes

Authors
  1. Michael Schroeder
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  2. Julie McCann
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  3. Daniel Haynes
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Editor information

Editors and Affiliations

  1. Institute of Information and Computing Sciences, Utrecht University, P.O. Box 80.089, 3508, TB Utrecht, The Netherlands

    Frank Dignum

  2. Software Department, Artificial Intelligence Section, Technical University of Catalonia, Mòdul C5-216, Jordi Girona 1 & 3, 08034, Barcelona, Spain

    Ulises Cortés

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© 2001 Springer-Verlag Berlin Heidelberg

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Schroeder, M., McCann, J., Haynes, D. (2001). Trading without Explicit Ontologies. In: Dignum, F., Cortés, U. (eds) Agent-Mediated Electronic Commerce III. AMEC 2000. Lecture Notes in Computer Science(), vol 2003. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-44723-7_8

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  • DOI: https://doi.org/10.1007/3-540-44723-7_8

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  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-41749-1

  • Online ISBN: 978-3-540-44723-8

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