GEM: A Global Electronic Market System

1 List of Symbols and Abbreviations 3 1 Introduction 5 1.1 Motivation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 1.1.1 Global Electronic Market . . . . . . . . . . . . . . . . . . . . 6 1.1.2 Distributed Market Architecture . . . . . . . . . . . . . . . . 7 1.1.3 Generic Market Architecture . . . . . . . . . . . . . . . . . . 8 1.2 Research Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 1.3 System Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 1.4 Dissertation Overview and Structure . . . . . . . . . . . . . . . . . . 11 2 Related Work 13 2.1 An Overview of Auction Mechanisms . . . . . . . . . . . . . . . . . . 13 2.1.1 Double Sided Auctions . . . . . . . . . . . . . . . . . . . . . 14 2.1.2 Single Sided Auctions . . . . . . . . . . . . . . . . . . . . . . 14 2.2 Examples of Markets and Online Auctions . . . . . . . . . . . . . . . 15 2.2.1 Stock Markets . . . . . . . . . . . . . . . . . . . . . . . . . . 15 2.2.2 Onl..