| Title | Backward InDuction Strategy (BIDS) for bidding in multiple auctions |
| Creator | |
| Date Issued | 2003 |
| Conference Name | IEEE International Conference on Systems, Man and Cybernetics (SMC 03) |
| Source Publication | Proceedings of the IEEE International Conference on Systems, Man and Cybernetics
 |
| ISSN | 0884-3627 |
| Volume | 5 |
| Pages | 4322-4327 |
| Conference Date | OCT 05-08, 2003 |
| Conference Place | WASHINGTON, D.C. |
| Abstract | We present a bidding strategy that enables an agent to bid in multiple English auctions. Based on a backward induction method, this Backward InDuction Strategy (BIDS) seeks to maximize the value of a utility function. In general, the agent needs to determine whether to bid in the next available auction. Note that it may be better to stop bidding if the current utility (the utility associated with the current bid price) is less than the expected utility of all of the subsequent auctions. Simulation results demonstrate the advantages of BIDS over other strategies. |
| Keyword | Agent-based auction system Auction/bidding strategy Negotiation mechanism |
| DOI | 10.1109/ICSMC.2003.1245664 |
| URL | View source |
| Language | 英语English |
| Scopus ID | 2-s2.0-0242468699 |
| Citation statistics |
Cited Times [WOS]:0
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| Document Type | Conference paper |
| Identifier | http://repository.uic.edu.cn/handle/39GCC9TT/7918 |
| Collection | Research outside affiliated institution |
| Corresponding Author | Zhang, Jie |
| Affiliation | Department of Computing,The Hong Kong Polytechnic University,Hung Hom, Kowloon,Hong Kong |
| Recommended Citation GB/T 7714 | Zhang, Jie,Lee, Raymond S.T.,Chan, Henry C.B. Backward InDuction Strategy (BIDS) for bidding in multiple auctions[C], 2003: 4322-4327. |
| Files in This Item: | There are no files associated with this item. | |||||
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