A Markov-decision-based price comparison problem for mobile agent-based internet commerce system (MAGICS)

Perry P Y Lam, Chun Bun Henry Chan

Research output: Chapter in book / Conference proceedingConference article published in proceeding or bookAcademic researchpeer-review

1 Citation (Scopus)

Abstract

Mobile agents are well suited for facilitating the consumer buying process on the Internet, particularly for comparing prices. In this paper, we present a mobile agent-based e-commerce system, called MAGICS, that addresses some issues concerning price comparisons. After providing an overview of the MAGICS architecture, we use the Markov decision theory to formulate a price comparison problem. The objective of the problem is to obtain an optimal decision policy in order to buy a product at the lowest expected cost, including the traveling costs. The problem was solved using the backward induction algorithm Some analytical results are presented and discussed.
Original languageEnglish
Title of host publicationProceedings - IEEE International Conference on E-Commerce Technology, CEC 2004
Pages34-41
Number of pages8
DOIs
Publication statusPublished - 27 Dec 2004
EventProceedings - IEEE International Conference on E-Commerce Technology, CEC 2004 - San Diego, CA, United States
Duration: 6 Jul 20049 Jul 2004

Conference

ConferenceProceedings - IEEE International Conference on E-Commerce Technology, CEC 2004
CountryUnited States
CitySan Diego, CA
Period6/07/049/07/04

Keywords

  • Electronic commerce
  • Mobile agents
  • Price comparison

ASJC Scopus subject areas

  • Engineering(all)

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