Using agent's eagerness and competition in automated bidding strategy

Publication Type:
Conference Proceeding
Proceedings - 2008 IEEE/WIC/ACM International Conference on Web Intelligence, WI 2008, 2008, pp. 855 - 861
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To be successful in multi-attribute auction, agents must be capable of adapting to continuous changing bidding price. This paper presents a novel fuzzy attitude based bidding strategy (FA-Bid), which employs dual assessment technique i.e. assessment of multiple attributes of the goods as well as assessment of agents attitude (eagerness) to procure an item in automated auction. The assessment of attributes adapts the fuzzy sets technique to handle uncertainty of the bidding process as well use heuristic rules to determine attitude of bidding agents in simulated auctions to procure goods. The overall assessment is used to determine a price range based on current bid, which finally selects the best one as the new bid. © 2008 IEEE.
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