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Title: A markov-decision-based price comparison problem for mobile aGent-based internet commerce system (MAGICS)
Authors: Lam, PPY
Chan, HCB 
Keywords: Markov processes
Decision theory
Electronic commerce
Inference mechanisms
Mobile agents
Issue Date: 2004
Publisher: IEEE
Source: IEEE International Conference on e-Commerce Technology, 2004 : CEC 2004 : proceedings : 6-9 July 2004, p. 34-41 How to cite?
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.
ISBN: 0-7695-2098-7
DOI: 10.1109/ICECT.2004.1319715
Appears in Collections:Conference Paper

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