TY - GEN
T1 - A risk-based bidding strategy for continuous double auctions
AU - Vytelingum, Perukrishnen
AU - Dash, Rajdeep K.
AU - David, Esther
AU - Jennings, Nicholas R.
PY - 2004
Y1 - 2004
N2 - We develop a novel bidding strategy that software agents can use to buy and sell goods in Continuous Double Auctions (CDAs). Our strategy involves the agent forming a bid or ask by assessing the degree of risk involved and making a prediction about the competitive equilibrium that is likely to be reached in the marketplace. We benchmark our strategy against two of the most common strategies for CDAs, namely the Zero-Intelligence and the Zero- Intelligence Plus strategies, and we show that our agents outperform these benchmarks. Specifically, our agents win in 100% of the simulations against the ZI agents and, on average, 75% of the games against the ZIP agents.
AB - We develop a novel bidding strategy that software agents can use to buy and sell goods in Continuous Double Auctions (CDAs). Our strategy involves the agent forming a bid or ask by assessing the degree of risk involved and making a prediction about the competitive equilibrium that is likely to be reached in the marketplace. We benchmark our strategy against two of the most common strategies for CDAs, namely the Zero-Intelligence and the Zero- Intelligence Plus strategies, and we show that our agents outperform these benchmarks. Specifically, our agents win in 100% of the simulations against the ZI agents and, on average, 75% of the games against the ZIP agents.
UR - http://www.scopus.com/inward/record.url?scp=84863222415&partnerID=8YFLogxK
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AN - SCOPUS:84863222415
T3 - Frontiers in Artificial Intelligence and Applications
SP - 79
EP - 83
BT - ECAI 2004 - 16th European Conference on Artificial Intelligence, including Prestigious Applications of Intelligent Systems, PAIS 2004 - Proceedings
A2 - de Mantaras, Ramon Lopez
A2 - Saitta, Lorenza
PB - IOS Press BV
T2 - 16th European Conference on Artificial Intelligence, ECAI 2004
Y2 - 22 August 2004 through 27 August 2004
ER -