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Developing a bidding agent for multiple heterogeneous auctions

Developing a bidding agent for multiple heterogeneous auctions
Developing a bidding agent for multiple heterogeneous auctions
Due to the proliferation of online auctions, there is an increasing need to monitor and bid in multiple auctions in order to procure the best deal for the desired good. 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 auctions with varying start and end times and with varying protocols (including English, Dutch and Vickrey). The framework is flexible, configurable, and enables the agent to adopt varying tactics and strategies that attempt to ensure that the desired item is delivered in a manner consistent with the user’s preferences. Given this large space of possibilities, we employ a genetic algorithm to search (offline) for effective strategies in common classes of environment. The strategies that emerge from this evolution are then codified into the agent’s reasoning behaviour so that it can select the most appropriate strategy to employ in its prevailing circumstances. The proposed framework has been implemented in a simulated marketplace environment and its effectiveness has been empirically demonstrated.
Algorithms, Design, Experimentation
185-217
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) Developing a bidding agent for multiple heterogeneous auctions. ACM Transactions on Internet Technology, 3 (3), 185-217.

Record type: Article

Abstract

Due to the proliferation of online auctions, there is an increasing need to monitor and bid in multiple auctions in order to procure the best deal for the desired good. 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 auctions with varying start and end times and with varying protocols (including English, Dutch and Vickrey). The framework is flexible, configurable, and enables the agent to adopt varying tactics and strategies that attempt to ensure that the desired item is delivered in a manner consistent with the user’s preferences. Given this large space of possibilities, we employ a genetic algorithm to search (offline) for effective strategies in common classes of environment. The strategies that emerge from this evolution are then codified into the agent’s reasoning behaviour so that it can select the most appropriate strategy to employ in its prevailing circumstances. The proposed framework has been implemented in a simulated marketplace environment and its effectiveness has been empirically demonstrated.

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Published date: 2003
Keywords: Algorithms, Design, Experimentation
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 258572
URI: https://eprints.soton.ac.uk/id/eprint/258572
PURE UUID: 2db29e9c-ec8e-49a8-965f-5ac15c97c72d

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Date deposited: 17 Nov 2003
Last modified: 24 Jul 2017 16:41

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Contributors

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

University divisions

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