Decision procedures for multiple auctions
Decision procedures for multiple auctions
This paper presents a decision theoretic framework that an autonomous agent can use to bid effectively across multiple, simultaneous auctions. Specifically our framework enables an agent to make rational decisions about purchasing multiple goods from a series of auctions that operate different protocols (we deal with the English, Dutch, First-Price Sealed Bid and Vickrey cases). The framework is then used to characterise the optimal decision that an agent should take. Finally, we develop a practical algorithm that provides a heuristic approximation to this ideal.
613-620
Byde, A.
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Priest, C.
f1a1ea30-b0af-4ec2-bdcc-f61746aa9dfb
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30
2002
Byde, A.
4af131a0-6242-4a2c-a85d-a494edccc8ea
Priest, C.
f1a1ea30-b0af-4ec2-bdcc-f61746aa9dfb
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30
Byde, A., Priest, C. and Jennings, N. R.
(2002)
Decision procedures for multiple auctions.
1st International Joint Conference on Autonomous Agents and Multi-Agent Systems, Bologna, Italy.
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Conference or Workshop Item
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Abstract
This paper presents a decision theoretic framework that an autonomous agent can use to bid effectively across multiple, simultaneous auctions. Specifically our framework enables an agent to make rational decisions about purchasing multiple goods from a series of auctions that operate different protocols (we deal with the English, Dutch, First-Price Sealed Bid and Vickrey cases). The framework is then used to characterise the optimal decision that an agent should take. Finally, we develop a practical algorithm that provides a heuristic approximation to this ideal.
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aamas02-byde.pdf
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Published date: 2002
Venue - Dates:
1st International Joint Conference on Autonomous Agents and Multi-Agent Systems, Bologna, Italy, 2002-01-01
Organisations:
Agents, Interactions & Complexity
Identifiers
Local EPrints ID: 256867
URI: http://eprints.soton.ac.uk/id/eprint/256867
PURE UUID: 02b2107c-0177-4c35-810a-a34ee0ce43b2
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Date deposited: 13 Jun 2003
Last modified: 14 Mar 2024 05:49
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Contributors
Author:
A. Byde
Author:
C. Priest
Author:
N. R. Jennings
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