Automated Fuzzy Bidding Strategy Using Agent's Attitude and Market Competition

Publication Type:
Conference Proceeding
International worshop on Multi-Agent Simulation in Finance and Economics, 2009, pp. 17 - 30
Issue Date:
Full metadata record
This paper designs a novel fuzzy competition and attitude based bidding strategy (FCA-Bid), in which the final best bid is calculated on the basis of the attitude of the bidders and the competition for the goods in the market. The estimation of attitude is based on the bidding items attribute assessment, which adapts the fuzzy sets technique to handle uncertainty of the bidding process as well it uses heuristic rules to determine attitude of bidding agents. The bidding strategy also uses and determines competition in the market (based on the two factors i.e. no. of the bidders participating and the total time elapsed for an auction) using Mamdanis Direct Method. Then the final price of the best bid will be determined based on the assessed attitude and the competition in the market using fuzzy reasoning technique.
Please use this identifier to cite or link to this item: