Strategic Modeling of Dynamic Credit Networks

Principal Investigator Michael Wellman Students Frank Cheng Junming Liu (MS ECE, 2015) Project Goals The 2008 financial crisis demonstrated that complex and opaque networks of credit relationships among firms can set the…

Putting the Agent in Agent-Based Modeling

MP Wellman Autonomous Agents and Multi-Agent Systems 30:1175–1189, 2016. Edited transcript of a talk presented at the 13th International Conference on Autonomous Agents and Multiagent Systems (Paris, France), May 2014, on receipt of the…

Bootstrap statistics for empirical games

B Wiedenbeck, B-A Cassell, and, MP Wellman International Conference on Autonomous Agents and Multiagent Systems, pages 597–604, May 2014. Abstract Researchers often use normal-form games to model multi-agent interactions. When a game…

Signal Structure and Strategic Information Acquisition: Deliberative Auctions with Interdependent Values

E Brinkman, MP Wellman, and SE Page International Conference on Autonomous Agents and Multiagent Systems, pages 229–236, May 2014. Abstract The ability to gather information can affect outcomes in auctions and other games of incomplete…

Characterizing Strategic Cascades on Networks

T Martin, G Schoenebeck, and MP Wellman 15th ACM Conference on Economics and Computation, pages 113–130, June 2014. Abstract Transmission of disease, spread of information and rumors, adoption of new products, and many other network phenomena…

Analyzing Incentives for Protocol Compliance in Complex Domains: A Case Study of Introduction-Based Routing

MP Wellman, TH Kim, and Q Duong Presented at the 12th Workshop on the Economics of Information Security, June 2013. Abstract Formal analyses of incentives for compliance with network protocols often appeal to game-theoretic models and…

Accounting for Price Dependencies in Simultaneous Sealed-Bid Auctions

BA Mayer, E Sodomka, A Greenwald, and MP Wellman 14th ACM Conference on Electronic Commerce, pages 679–696, June 2013. Abstract Current autonomous bidding strategies for complex auctions typically employ a two phased architecture: first,…

Qualitative Probabilistic Networks for Planning Under Uncertainty

MP Wellman Workshop on Uncertainty in Artificial Intelligence, pages 311–318, 1986. Abstract Bayesian networks provide a probabilistic semantics for qualitative assertions about likelihood. A qualitative reasoner based on an algebra over…

Latency Arbitrage, Market Fragmentation, and Efficiency: A Two-Market Model

E Wah and MP Wellman Proceedings of the 14th ACM Conference on Electronic Commerce, pages 855–872, June 2013. Abstract We study the effect of latency arbitrage on allocative efficiency and liquidity in fragmented financial markets.  We…

An empirical game-theoretic analysis of credit network formation

MP Wellman and B Wiedenbeck Fiftieth Annual Allerton Conference on Communication, Control, and Computing, October 2012. Abstract The framework of credit networks provides a flexible and robust model of distributed trust, based on pairwise…