The University of Southampton
University of Southampton Institutional Repository

Heuristic bidding strategies for multiple heterogeneous auctions

Heuristic bidding strategies for multiple heterogeneous auctions
Heuristic bidding strategies for multiple heterogeneous auctions
This paper investigates utility maximising bidding heuristics for agents that participate in multiple heterogeneous auctions, in which the auction format and the starting and closing times can be different. Our strategy allows an agent to procure one or more items and to participate in any number of auctions. For this case, forming an optimal bidding strategy by global utility maximisation is computationally intractable, and so we develop two-stage heuristics that first provide reasonable bidding thresholds with simple strategies before deciding which auctions to participate in. The proposed approach leads to an average gain of at least 24% in agent utility over commonly used benchmarks.
300-304
Yuen, D.
14e9ad43-c8e2-439b-b28f-4f3a73d5705e
Byde, A.
4af131a0-6242-4a2c-a85d-a494edccc8ea
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30
Yuen, D.
14e9ad43-c8e2-439b-b28f-4f3a73d5705e
Byde, A.
4af131a0-6242-4a2c-a85d-a494edccc8ea
Jennings, N. R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30

Yuen, D., Byde, A. and Jennings, N. R. (2006) Heuristic bidding strategies for multiple heterogeneous auctions. 17th European Conference on Artificial Intelligence (ECAI-06), Italy. 28 Aug - 01 Sep 2006. pp. 300-304 .

Record type: Conference or Workshop Item (Paper)

Abstract

This paper investigates utility maximising bidding heuristics for agents that participate in multiple heterogeneous auctions, in which the auction format and the starting and closing times can be different. Our strategy allows an agent to procure one or more items and to participate in any number of auctions. For this case, forming an optimal bidding strategy by global utility maximisation is computationally intractable, and so we develop two-stage heuristics that first provide reasonable bidding thresholds with simple strategies before deciding which auctions to participate in. The proposed approach leads to an average gain of at least 24% in agent utility over commonly used benchmarks.

Text
ecai06-yuen.pdf - Other
Download (164kB)

More information

Published date: 2006
Venue - Dates: 17th European Conference on Artificial Intelligence (ECAI-06), Italy, 2006-08-28 - 2006-09-01
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 262600
URI: http://eprints.soton.ac.uk/id/eprint/262600
PURE UUID: 6719d23d-c634-4c8c-be90-23bbeda0c025

Catalogue record

Date deposited: 16 May 2006
Last modified: 19 Jul 2019 22:31

Export record

Contributors

Author: D. Yuen
Author: A. Byde
Author: N. R. Jennings

University divisions

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×