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Decision procedures for multiple auctions

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, similtaneous 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.
4af131a0-6242-4a2c-a85d-a494edccc8ea
Priest, C.
f1a1ea30-b0af-4ec2-bdcc-f61746aa9dfb
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30
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, Italy. pp. 613-620 .

Record type: Conference or Workshop Item (Paper)

Abstract

This paper presents a decision theoretic framework that an autonomous agent can use to bid effectively across multiple, similtaneous 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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Published date: 2002
Venue - Dates: 1st International Joint Conference on Autonomous Agents and Multi-Agent Systems, 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

Catalogue record

Date deposited: 13 Jun 2003
Last modified: 16 Dec 2019 20:46

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