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Birkhäuser - Birkhäuser Computer Science | Bidding Strategies in Agent-Based Continuous Double Auctions

Bidding Strategies in Agent-Based Continuous Double Auctions

Huiye, Ma


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  • First book to focus on continuous double auctions (CDAs) where a limited amount of seller agents and buyer agents trade what they want
  • First book to propose some generally used tools which are shown to improve the performance of various existing bidding strategies in CDAs
  • Gives a systematic way to describe how to design experiments for agent based CDAs

Online auctions are a platform to trade goods on the Internet. In this context, negotiation capabilities for software agents in continuous double auctions (CDAs) are a central concern. Agents need to be able to prepare bids for and evaluate offers on behalf of the users they represent with the aim of obtaining the maximum benefit for their users.

For the agents, their bids are decided according to some bidding strategy. However, in CDAs, it is a complex decision problem because of the inherent uncertainty and dynamics of the auction market. In this book, we present a new bidding strategy for agents to adopt in CDAs and propose tools to enhance the performance of existing bidding strategies in CDAs. The superior performance of the new bidding strategy as well as the tools presented in this book are illustrated through extensive experiments.

Content Level » Research

Keywords » adaptivity - agents - bidding strategies - decision problem - negotiation - performance - software agent - uncertainty

Related subjects » Birkhäuser Computer Science

Table of contents 

1 Introduction.- 1.1 Agent-Based Auctions in Electronic Commerce.- 1.2 Research Aims.- 1.3 Research Contributions.- 1.4 Book Structure.- 2 Agent-Based CDAs and Bidding Strategies.- 2.1 Agent-Based Continuous Double Auctions.- 2.2 Continuous Double Auction Mechanisms.- 2.3 Bidding Strategies for Agents in CDAs.- 2.4 Evaluation Criteria of Bidding Strategies.- 2.5 Approaches for Analyzing Bidding Strategies.- 3 The Adaptive Attitude Bidding Strategy.- 3.1 Eagerness.- 3.2 Bidding Strategies Based on Eagerness.- 3.3 Experimental Analysis.- 3.4 Summary.- 4 Soft Asks and Soft Bids.- 4.1 Motivation.- 4.2 Definitions.- 4.3 Experimental Results and Analysis.- 4.4 Observations.- 4.5 Agents with Adaptive Soft Asks or Bids.- 4.6 Experimental Evaluation.- 4.7 Summary.- 5 Adaptive Judgement of Price Acceptability.- 5.1 Motivation.- 5.2 Definitions.- 5.3 Experimental Results and Analysis.- 5.4 Agents with Adaptive Judgement of Price Acceptability.- 5.5 Experimental Evaluation.- 5.6 Summary.- 6 Adaptive Time Strategies.- 6.1 Preliminaries.- 6.2 Time Strategies.- 6.3 Illusory Seller's or Buyer's Market in CDAs with a Fixed Deadline.- 6.4 Circumstance-Dependent Softness.- 6.5 Effect of Different Submission Time.- 6.6 Adaptive Mechanisms for Sellers and Buyers to Utilize Time Strategies.- 6.7 Experimental Evaluation of Adaptive Mechanisms.- 6.8 Summary.- 7 Discussion of the Results.- 7.1 The Characteristics of Agent Oriented CDAs.- 7.2 Scenarios in Which Results Can Be Applied.- 8 Conclusions and Future Work.- 8.1 Conclusions.- 8.2 Possible Future Research Directions.- Bibliography.- Index.

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