Buyer and seller agents conduct negotiations with AuctionBot, enforcing the user-specified parameters to control the bidding. AuctionBot provides an API that allows a user to create agents that are primed with customized bidding strategies. Demand curve obtained for high residual stock value. Actual purchase transactions require browsing of the supplier site. BargainFinder requires that suppliers subscribe to the service to advertise their products, whereas Jango exploits the Excite search engine, removing such limitations on the suppliers.
Users can select one of several price decay functions for goods that they are attempting to sell.
Seller agents post their offers on a common blackboard and wait for interested buyer agents to establish contact. A buyer agent filters the available offers according to the user's criteria, and then proceeds to negotiate a deal. Both buyer and supplier agents operate within the single marketplace server, and do not move from one server to another. Independent agents can register with a relay server that maintains unique identifiers for the agents and routes inter-agent messages. Unlike the above systems, our system is not based on an auction house or advertisement board server.