Скачать презентацию Exchanges for Complex Commodities Toward a General-Purpose System Скачать презентацию Exchanges for Complex Commodities Toward a General-Purpose System

918e927388b5d98532d8396db334e250.ppt

  • Количество слайдов: 49

Exchanges for Complex Commodities: Toward a General-Purpose System John Hershberger Committee: Eugene Fink Rafael Exchanges for Complex Commodities: Toward a General-Purpose System John Hershberger Committee: Eugene Fink Rafael Perez Dmitry B. Goldgof

Motivation • Build an automated exchange for trading goods and services • Combine the Motivation • Build an automated exchange for trading goods and services • Combine the speed of the stock exchange with the flexibility of e. Bay +

Outline • Previous work Outline • Previous work

Outline • Previous work • One-attribute market Outline • Previous work • One-attribute market

Outline • Previous work • One-attribute market • Multi-attribute market Outline • Previous work • One-attribute market • Multi-attribute market

Outline • Previous work • One-attribute market • Multi-attribute market • Large number of Outline • Previous work • One-attribute market • Multi-attribute market • Large number of attributes

Outline • Previous work • One-attribute market • Multi-attribute market • Large number of Outline • Previous work • One-attribute market • Multi-attribute market • Large number of attributes • Numeric attributes

Outline • Previous work • One-attribute market • Multi-attribute market • Large number of Outline • Previous work • One-attribute market • Multi-attribute market • Large number of attributes • Numeric attributes • Complex orders

Outline • Previous work • One-attribute market • Multi-attribute market • Large number of Outline • Previous work • One-attribute market • Multi-attribute market • Large number of attributes • Numeric attributes • Complex orders • Price functions

Outline • Previous work • One-attribute market • Multi-attribute market • Large number of Outline • Previous work • One-attribute market • Multi-attribute market • Large number of attributes • Numeric attributes • Complex orders • Price functions • Main results

Combinatorial auctions • Complex commodities • Asymmetry between buyers and sellers • Illiquid Combinatorial auctions • Complex commodities • Asymmetry between buyers and sellers • Illiquid

Standardized exchanges • Simple commodities • Symmetry between buyers and sellers • Liquid Standardized exchanges • Simple commodities • Symmetry between buyers and sellers • Liquid

One-attribute market Price Sell order Price $89. 02 $89. 00 Buy order GE IBM One-attribute market Price Sell order Price $89. 02 $89. 00 Buy order GE IBM MCD Stock symbol

One-attribute market Sell order Price $89. 02 $89. 00 Buy order GE IBM MCD One-attribute market Sell order Price $89. 02 $89. 00 Buy order GE IBM MCD Stock symbol

Table of items • Table of all tradable items • For each item, a Table of items • Table of all tradable items • For each item, a tree of prices BA GE IBM $88. 94 MCD PG $88. 93 $88. 92 $88. 93 $88. 97 $88. 96 $88. 99

Multi-attribute market Mileage Sell order 50, 000 Buy order Mu ho sta ng Co Multi-attribute market Mileage Sell order 50, 000 Buy order Mu ho sta ng Co rve tte Ca ma ro Ec mr y 00 01 Model Ca Mu ho sta ng Co rve tte Ca ma ro Ec Ca mr y 00 01 02 02 03 Year 03 30, 000 Year Model

Multi-attribute market Mileage 50, 000 Year Mu ho sta ng Co rve tte Ca Multi-attribute market Mileage 50, 000 Year Mu ho sta ng Co rve tte Ca ma ro Ec Ca mr y 00 01 02 03 30, 000 Model

Retrieval tree (a. k. a. trie) of simple orders Model Mustang Year Camry Corvette Retrieval tree (a. k. a. trie) of simple orders Model Mustang Year Camry Corvette Year 1996 1999 2000 1988 Mileage 50 K 180 K 20 K 1996 Mustang, 50 K miles, $7, 000 1999 Camry, 10 K miles, $18, 000 2000 Camry, 180 K miles, $5, 000 1988 Corvette, 20 K miles, $4, 000

Main structures • Trie of simple orders • List of complex orders Main structures • Trie of simple orders • List of complex orders

Depth-first search Buy Order: Any car made after 1990 Model Mustang Year Camry Corvette Depth-first search Buy Order: Any car made after 1990 Model Mustang Year Camry Corvette Year 1996 1999 2000 1988 Mileage 50 K 180 K 20 K 1996 Mustang, 50 K miles, $7, 000 1999 Camry, 10 K miles, $18, 000 2000 Camry, 180 K miles, $5, 000 Best price 1988 Corvette, 20 K miles, $4, 000

Depth-first search Buy Order: With limited number of matches Any car made after 1990 Depth-first search Buy Order: With limited number of matches Any car made after 1990 Model Mustang Year Limit: 2 matches Camry Corvette Year 1996 1999 2000 1988 Mileage 50 K 180 K 20 K 1996 Mustang, 50 K miles, $7, 000 Best price among found matches 1999 Camry, 10 K miles, $18, 000 2000 Camry, 180 K miles, $5, 000 Actual best price 1988 Corvette, 20 K miles, $4, 000

Large number of attributes Model Mustang Camry Corvette Year 1996 1999 2000 1988 Mileage Large number of attributes Model Mustang Camry Corvette Year 1996 1999 2000 1988 Mileage 50 K 180 K 20 K Cylinders 4 6 4 8 1996 Mustang 50 K miles, 4 cyl. 1999 Camry 10 K miles, 6 cyl. 2000 Camry 180 K miles, 4 cyl. 1988 Corvette 20 K miles, 8 cyl.

PATRICIA Model Camry Year Mustang, 1996, 50 K, 4 1996 Mustang 50 K miles, PATRICIA Model Camry Year Mustang, 1996, 50 K, 4 1996 Mustang 50 K miles, 4 cyl. 1999, 10 K, 6 1999 Camry 10 K miles, 6 cyl. 2000, 180 K, 4 Corvette, 1988, 20 K, 8 2000 Camry 180 K miles, 4 cyl. 1988 Corvette 20 K miles, 8 cyl.

Numeric attributes Mileage Sell order 50, 000 30, 000 MPG 22 21 21 22 Numeric attributes Mileage Sell order 50, 000 30, 000 MPG 22 21 21 22 23 23 MPG 120 140 Top speed Buy order 120 140 Top speed

Numeric attributes Mileage 50, 000 22 23 MPG 21 30, 000 120 140 Top Numeric attributes Mileage 50, 000 22 23 MPG 21 30, 000 120 140 Top speed

PATRICIA with numeric attributes gives high branching factor Mileage 10 K, 25, 140 10 PATRICIA with numeric attributes gives high branching factor Mileage 10 K, 25, 140 10 K miles, 25 MPG, 140 m. p. h. 30 K, 28, 90 30 K miles, 28 MPG, 90 m. p. h. 90 K, 18, 100 90 K miles, 18 MPG, 100 m. p. h. 100 K, 20, 110 100 K miles, 20 MPG, 110 m. p. h.

KD-trees Tree for handling numeric attributes 50 Miles MPG 50 K 45 20 K KD-trees Tree for handling numeric attributes 50 Miles MPG 50 K 45 20 K 18 70 K 25 90 K 34 Car 5 Car 6 30 K 16 40 K 10 40 (90, 34) Car 4 MPG Car 1 Car 2 Car 3 Car 4 (50, 45) Car 1 30 (20, 18) Car 2 20 (70, 25) Car 3 (30, 16) Car 5 10 (40, 10) Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

KD-trees 50 (50, 45) Car 1 40 Car 1 MPG (90, 34) Car 4 KD-trees 50 (50, 45) Car 1 40 Car 1 MPG (90, 34) Car 4 30 (20, 18) Car 2 20 (70, 25) Car 3 (30, 16) Car 5 10 (40, 10) Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

KD-trees 50 (50, 45) Car 1 40 Car 1 MPG Car 2 (90, 34) KD-trees 50 (50, 45) Car 1 40 Car 1 MPG Car 2 (90, 34) Car 4 30 (20, 18) Car 2 20 (70, 25) Car 3 (30, 16) Car 5 10 (40, 10) Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

KD-trees 50 (50, 45) Car 1 40 Car 1 Car 3 MPG Car 2 KD-trees 50 (50, 45) Car 1 40 Car 1 Car 3 MPG Car 2 (90, 34) Car 4 30 (20, 18) Car 2 20 (70, 25) Car 3 (30, 16) Car 5 10 (40, 10) Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

KD-trees 50 (50, 45) Car 1 40 Car 1 MPG Car 2 (90, 34) KD-trees 50 (50, 45) Car 1 40 Car 1 MPG Car 2 (90, 34) Car 4 30 Car 3 Car 4 (20, 18) Car 2 20 (70, 25) Car 3 (30, 16) Car 5 10 (40, 10) Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

KD-trees 50 (50, 45) Car 1 40 Car 1 Car 5 MPG Car 2 KD-trees 50 (50, 45) Car 1 40 Car 1 Car 5 MPG Car 2 (90, 34) Car 4 30 Car 3 Car 4 (20, 18) Car 2 20 (70, 25) Car 3 (30, 16) Car 5 10 (40, 10) Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

KD-trees 50 (50, 45) Car 1 40 Car 1 Car 5 Car 6 MPG KD-trees 50 (50, 45) Car 1 40 Car 1 Car 5 Car 6 MPG Car 2 (90, 34) Car 4 30 Car 3 Car 4 (20, 18) Car 2 20 (70, 25) Car 3 (30, 16) Car 5 10 (40, 10) Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

KD-trees 50 (50, 45) Car 1 40 Car 1 Car 5 Car 6 MPG KD-trees 50 (50, 45) Car 1 40 Car 1 Car 5 Car 6 MPG Car 2 (90, 34) Car 4 30 Car 3 Car 4 (20, 18) Car 2 20 (70, 25) Car 3 (30, 16) Car 5 10 (40, 10) Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

Complex orders Mileage Sell order 50, 000 MPG 21 21 22 22 23 25, Complex orders Mileage Sell order 50, 000 MPG 21 21 22 22 23 25, 000 MPG 23 50, 000 120 140 Top speed Buy order 120 140 Top speed

Complex orders Mileage 50, 000 23 22 21 25, 000 MPG 120 140 Top Complex orders Mileage 50, 000 23 22 21 25, 000 MPG 120 140 Top speed

Indexing of complex orders Miles (K) Car 1 Car 2 Car 3 Car 4 Indexing of complex orders Miles (K) Car 1 Car 2 Car 3 Car 4 Car 5 Car 6 40– 60 MPG 40– 50 12– 28 13– 23 52– 88 20– 30 80– 99 24– 44 25– 35 11– 21 34– 46 5– 15

Indexing of complex orders 50 Car 1 40 Car 4 Car 1 Car 5 Indexing of complex orders 50 Car 1 40 Car 4 Car 1 Car 5 Car 6 MPG Car 2 Car 3 30 Car 3 Car 4 Car 2 20 Car 5 10 Car 6 0 20 K 40 K 60 K Miles 80 K 100 K

Price functions $32 K Price $32 K – (2003 – Year) · $2 K Price functions $32 K Price $32 K – (2003 – Year) · $2 K $30 K Year $32 K 03 $30 K $28 K 02 Order: 2001 -2003 Mustang 01 $28 K Price limit: 00 Camaro Mustang Corvette Model

Price functions Sell order Mustang made in 2003 Price = $30, 000 $32 K Price functions Sell order Mustang made in 2003 Price = $30, 000 $32 K Price $30 K Year $32 K 03 $30 K $28 K 02 2001 -2003 Mustang Price = $32 K – (2003 – Year) · $2 K 01 $28 K Buy order 00 Camaro Mustang Corvette Model

Price functions • Orders with identical attributes are in the same leaf • Each Price functions • Orders with identical attributes are in the same leaf • Each leaf includes a tree of prices

Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Year 1996 1999 2000 1988 Mileage 50 K 10 K 60 K 20 K 1996 Mustang, 50 K miles 1999 Camry, 10 K miles $9 K $7 K 2000 Camry, 60 K miles $15 K $14 K $12 K $17 K $10 K 1988 Corvette, 20 K miles $3 K

Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Year 1996 1999 2000 1988 Mileage 50 K 10 K 60 K 20 K 1996 Mustang, 50 K miles 1999 Camry, 10 K miles $9 K $7 K 2000 Camry, 60 K miles $15 K $14 K $12 K $17 K $10 K 1988 Corvette, 20 K miles $3 K

Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Year 1996 1999 2000 1988 Mileage 50 K 10 K 60 K 20 K 1996 Mustang, 50 K miles 1999 Camry, 10 K miles $9 K $7 K 2000 Camry, 60 K miles $15 K $14 K $12 K $17 K $10 K 1988 Corvette, 20 K miles $3 K

Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Year 1996 1999 2000 1988 Mileage 50 K 10 K 60 K 20 K 1996 Mustang, 50 K miles 1999 Camry, 10 K miles $9 K $7 K 2000 Camry, 60 K miles $15 K $14 K $12 K $17 K $10 K 1988 Corvette, 20 K miles $3 K

Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Year 1996 1999 2000 1988 Mileage 50 K 10 K 60 K 20 K 1996 Mustang, 50 K miles 1999 Camry, 10 K miles $9 K $7 K 2000 Camry, 60 K miles $15 K $14 K $12 K $17 K $10 K 1988 Corvette, 20 K miles $3 K

Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Leaf nodes Buy Order: Any car made after 1990 Model Mustang Camry Year Corvette Year 1996 1999 2000 1988 Mileage 50 K 10 K 60 K 20 K 1996 Mustang, 50 K miles 1999 Camry, 10 K miles $9 K Best Match $7 K 2000 Camry, 60 K miles $15 K $14 K $12 K $17 K $10 K 1988 Corvette, 20 K miles $3 K

Main results • Formalization of previous techniques • Identification of open problems • Theoretical Main results • Formalization of previous techniques • Identification of open problems • Theoretical solutions to some problems

Future work (Ph. D. ) • Advanced indexing structures • Search for approximate matches Future work (Ph. D. ) • Advanced indexing structures • Search for approximate matches • Trading different commodity types in a common exchange