Designing a successful trading agent using fuzzy techniques
OA Location
Author(s)
He, M
Jennings, NR
Type
Journal Article
Abstract
Software agents are increasingly being used to represent humans in on-line auctions. Such agents have the advantages of being able to systematically monitor a wide variety of auctions and then make rapid decisions about what bids to place in what auctions. They can do this continuously and repetitively without losing concentration. To provide a means of evaluating and comparing (benchmarking) research methods in this area the Trading Agent Competition (TAC) was established. This competition involves a number of agents bidding against one another in a number of related auctions (operating different protocols) to purchase travel packages for customers. Against this background, this paper describes the design, implementation and evaluation of Southampton- TAC, one of the most successful participants in both the Second and the Third International Competitions. Our agent uses fuzzy techniques at the heart of its decision making: to make bidding decisions in the face of uncertainty, to make predictions about the likely outcomes of auctions, and to alter the agent?s bidding strategy in response to the prevailing market conditions. Keywords: intelligent agents, fuzzy set, fuzzy reasoning, on-line auctions, trading agent competition.
Date Issued
2004
Citation
IEEE Trans on Fuzzy Systems, 2004, 12, pp.389-410
Start Page
389
End Page
410
Journal / Book Title
IEEE Trans on Fuzzy Systems
Volume
12
Identifier
http://eprints.soton.ac.uk/258577/
Article Number
3