| Abstract | Price is the omnipresent factor that determines buyers' and sellers' decision-making when trading products in real and virtual marketplaces. However, since a fixed price can often lead to unsuccessful transactions, in practice market players normally have price ranges in their minds, which imply some concessions when finding potential buyer-seller matches. In this paper, we propose a price-range similarity measure that is justified by price-range overlaps between buyers and sellers in several possible cases. Working independently, our price-range similarity measure provides a buyer (seller) with a list of ranked sellers (buyers) according to their price-range similarity values. Embedded into a similarity algorithm, our price-range similarity measure contributes, in a controllable way, to the overall similarity measures of products/services. |
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