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A Novel Method for Strategy Acquisition and Its Application to a Double-Auction Market Game

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3 Author(s)
Phelps, S. ; Centre for Comput. Finance & Economic Agents, Univ. of Essex, Colchester, UK ; McBurney, P. ; Parsons, S.

We introduce a method for strategy acquisition in nonzero-sum n -player games and empirically validate it by applying it to a well-known benchmark problem in this domain, namely, the double-auction market. Many existing approaches to strategy acquisition focus on attempting to find strategies that are robust in the sense that they are good all-round performers against all-comers. We argue that, in many economic and multiagent scenarios, the robustness criterion is inappropriate; in contrast, our method focuses on searching for strategies that are likely to be adopted by participating agents, which is formalized as the size of a strategy's basins of attraction under the replicator dynamics.

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Systems, Man, and Cybernetics, Part B: Cybernetics, IEEE Transactions on  (Volume:40 ,  Issue: 3 )