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

Perry P Y Lam; Chun Bun Henry Chan

doi:10.1109/ICECT.2004.1319715

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

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-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 language	English
Title of host publication	Proceedings - IEEE International Conference on E-Commerce Technology, CEC 2004
Pages	34-41
Number of pages	8
DOIs	https://doi.org/10.1109/ICECT.2004.1319715
Publication status	Published - 27 Dec 2004
Event	Proceedings - IEEE International Conference on E-Commerce Technology, CEC 2004 - San Diego, CA, United States Duration: 6 Jul 2004 → 9 Jul 2004

Conference

Conference	Proceedings - IEEE International Conference on E-Commerce Technology, CEC 2004
Country/Territory	United States
City	San Diego, CA
Period	6/07/04 → 9/07/04

Keywords

Electronic commerce
Mobile agents
Price comparison

ASJC Scopus subject areas

Engineering(all)

More information

10.1109/ICECT.2004.1319715

Cite this

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

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.",

keywords = "Electronic commerce, Mobile agents, Price comparison",

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Lam, PPY & Chan, CBH 2004, A Markov-decision-based price comparison problem for mobile agent-based internet commerce system (MAGICS). in Proceedings - IEEE International Conference on E-Commerce Technology, CEC 2004. pp. 34-41, Proceedings - IEEE International Conference on E-Commerce Technology, CEC 2004, San Diego, CA, United States, 6/07/04. https://doi.org/10.1109/ICECT.2004.1319715

A Markov-decision-based price comparison problem for mobile agent-based internet commerce system (MAGICS). / Lam, Perry P Y; Chan, Chun Bun Henry.

Proceedings - IEEE International Conference on E-Commerce Technology, CEC 2004. 2004. p. 34-41.

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

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

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Keywords

ASJC Scopus subject areas

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