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The interaction of Shopbots and Pricebots

The interaction of Shopbots and Pricebots. Xin Sui Nov 30, 2006. Shopbots. Shopbots agents that automatically search the internet for goods and/or services on behalf of consumers (minimize costs for comsumer). http://www.pricescan.com. Shopbots. How shopbots affect sellers?

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The interaction of Shopbots and Pricebots

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  1. The interaction of Shopbots and Pricebots Xin Sui Nov 30, 2006

  2. Shopbots • Shopbots • agents that automatically search the internet for goods and/or services on behalf of consumers (minimize costs for comsumer) http://www.pricescan.com

  3. Shopbots • How shopbots affect sellers? • if a seller doesn’t adjust their goods’ prices according to its competitors’ , they may experience decreased sales and may give ground to its competitors. • It’s better for sellers to reprice their goods as quickly as possible

  4. Pricebot • Pricebot: Economically-motivated agents that set prices so as to maximize the profits of the sellers. • The paper “shopbots and pricebots” conducted several experiments. Three strategies were considered. • GT: using information about buyers • MY: using information about buyers and its competitors’ prices • DF: not use information about buyers and its competitors’ prices 1. When a MY seller is involved in a DF or GT population, it outplays them 2. Faster price-setter earns more profit than others.

  5. Pricebots need shopbots • The strategy of Pricebots may most likely needs the knowledge of competitors’ prices. How to get such info? shopbots. • Where to get shopbots? • If the sellers build shopbots by themselves • Overload their competitors’ web sites, so their accesses will be prevented by their competitors • if the sellers use shopbots provided by other companies • Overload shopbots, hinder human buyers, so their accesses will be prevented by those shopbots

  6. What is the solution • Charging for price information service • For shopbot, charging pricebots for price information • For sellers, charging shopbot for price information • Is there any other solution?

  7. Discussion • What kind of sellers will get more money by selling price information? • What kind of sellers will acquire less price information so that pay less money on it? • Is the money by selling information fee earned by a seller less than that it pay for acquiring price information? • If less, does the difference between them increase the price of their goods or reduce its profits? • If more, does the difference between them increase its profits?

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