A market is in equilibrium if there is no opportunity forarbitrage, ie: risk-free, or low-risk, profit. The majority of real markets arenot in equilibrium. A project is investigating the market evolutionaryprocess in a particular electronic market that has been constructed in anon-going collaborative research project between a university and asoftware house. The way in which actors (buyers, sellers and others) usethe market will be influenced by the information available to them. Inthis experiment, data mining and filtering techniques are used to distilboth individual signals drawn from the markets and signals from theInternet into meaningful advice for the actors. The goal of thisexperiment is first to learn how actors will use the advice available tothem to identify arbitrage opportunities, and second how the market willevolve through entrepreneurial intervention. In this electronic market amultiagent process management system is used to manage all markettransactions including those that drive the market evolutionary process.
