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A heuristic bidding strategy for multiple heterogeneous auctions

A heuristic bidding strategy for multiple heterogeneous auctions
A heuristic bidding strategy for multiple heterogeneous auctions
Online auctions are increasingly being used as a medium to procure goods and services. As the number of auction sites increases, however, consumers will inevitably want to track and bid in multiple auctions (with multiple protocols) in order to get the best deal for their desired goods. To this end, this paper reports on the development of a heuristic decision making framework that an autonomous agent can exploit to tackle the problem of bidding across multiple heterogeneous auctions. The framework enables the agent to adopt varying tactics and strategies that attempt to ensure that the user's objectives are satisfied. Through empirical evaluation, the agent's performance is shown to be effective even when there are multiple such agents in the environment at the same time and when the agent cannot accurately determine the type of environment that it is situated in.
multiple auctions, bidding strategy, intelligent agents
9-16
Anthony, P.
61bb9d60-dfad-4ce8-a369-cf5558942401
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30
Anthony, P.
61bb9d60-dfad-4ce8-a369-cf5558942401
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30

Anthony, P. and Jennings, N. R. (2003) A heuristic bidding strategy for multiple heterogeneous auctions. 5th International Conference on Electronic Commerce, United States. pp. 9-16 .

Record type: Conference or Workshop Item (Paper)

Abstract

Online auctions are increasingly being used as a medium to procure goods and services. As the number of auction sites increases, however, consumers will inevitably want to track and bid in multiple auctions (with multiple protocols) in order to get the best deal for their desired goods. To this end, this paper reports on the development of a heuristic decision making framework that an autonomous agent can exploit to tackle the problem of bidding across multiple heterogeneous auctions. The framework enables the agent to adopt varying tactics and strategies that attempt to ensure that the user's objectives are satisfied. Through empirical evaluation, the agent's performance is shown to be effective even when there are multiple such agents in the environment at the same time and when the agent cannot accurately determine the type of environment that it is situated in.

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More information

Published date: 2003
Additional Information: Event Dates: 2003
Venue - Dates: 5th International Conference on Electronic Commerce, United States, 2003-01-01
Keywords: multiple auctions, bidding strategy, intelligent agents
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 258571
URI: https://eprints.soton.ac.uk/id/eprint/258571
PURE UUID: 102634c5-3a26-4dc2-ac7f-af4c93c21792

Catalogue record

Date deposited: 17 Nov 2003
Last modified: 16 Jul 2018 16:31

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Contributors

Author: P. Anthony
Author: N. R. Jennings

University divisions

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