Heuristic bidding strategies for multiple heterogeneous auctions
OA Location
Author(s)
Yuen, D
Byde, A
Jennings, NR
Type
Conference Paper
Abstract
This paper investigates utility maximising bidding heuristics for agents that participate in multiple heterogeneous auctions, in which the auction format and the starting and closing times can be different. Our strategy allows an agent to procure one or more items and to participate in any number of auctions. For this case, forming an optimal bidding strategy by global utility maximisation is computationally intractable, and so we develop two-stage heuristics that first provide reasonable bidding thresholds with simple strategies before deciding which auctions to participate in. The proposed approach leads to an average gain of at least 24% in agent utility over commonly used benchmarks.
Date Issued
2006
Citation
Proc. 17th European Conference on AI, Trento, Italy, 2006, pp.300-304
Start Page
300
End Page
304
Journal / Book Title
Proc. 17th European Conference on AI, Trento, Italy
Identifier
http://eprints.soton.ac.uk/262600/
Source
17th European Conference on AI
Subjects
Science & Technology
Technology
Computer Science, Artificial Intelligence
Computer Science
Publication Status
Unpublished