Agents and markets

Autonomous agents are intelligent software programs. Typically, agents are situated in an environment. Repeatedly, they sense their environment, engage in some decision making whereby they select actions, and execute their actions, which, in turn, impact their environment. Moreover, in most cases, the environment contains a number of such agents whose actions typically mutually affect one another. This interdependence arises because the different agents, with their own aims and objectives, must operate in a common environment that has finite resources and capabilities. Depending on the dependencyʹs nature, several different types of social interaction occur between the agents, including cooperation, coordination, and negotiation. Autonomous agents are becoming active participants in marketplaces. We present a study on the interactions between autonomous agents and markets.