Bidding Strategies in Agent-Based Continuous Double Auctions by Huiye Ma

By Huiye Ma

This ebook offers a brand new bidding technique for brokers to undertake in non-stop double auctions (CDAs) and proposes a few normally used instruments to augment the functionality of present bidding ideas in CDAs. it's the first ebook to target CDAs the place a restricted volume of vendor brokers and shopper brokers exchange what they need. the very best functionality of the hot bidding method and the instruments proposed via this ebook are illustrated via broad experiments.

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Extra resources for Bidding Strategies in Agent-Based Continuous Double Auctions (Whitestein Series in Software Agent Technologies and Autonomic Computing)

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Later, several pieces of work mention a similar idea about eagerness. Vytelingum et al. [115] define the aggressiveness of the bidding behaviour as how eager an agent is to transact. They consider three types of bidding behaviour: neutral, passive, and aggressive. Their aim is to explore what type of behaviour should be adopted given the particular population distribution of types. Nevertheless, such population distribution is rarely known in a dynamic market. Goyal et al. [44] propose that in a dynamic multi-agent world, the behaviour of an agent is based on appropriate commitment of the agent to all unexpected situations in the world.

As a seller, if he has sold all the units he wanted to sell in the last run, he would be eager for more profit in the current run. In this case, the eagerness function should return a high value. The seller believes that he has left a lot of profit for buyers in the last run and he should increase his asks on each unit of goods in the current run and grab more 32 Chapter 3. The Adaptive Attitude Bidding Strategy profit back from buyers. Otherwise, the seller should be willing to decrease his prices and eager for more transactions in the current run.

Under this situation, the eagerness function will return a high value with a high weight and a large Tir . ⎧ small Tir ⎨ W1 × Tir r W2 × Tir medium Tir . 1) ⎩ W3 × Tir large Tir Tp,i represents the long-term attitude . A(Tp,i ) is the weight of the long-term attitude. In a series of CDAs, any seller or buyer can compare successive runs and remember useful information from previous runs. As a seller, if he has sold all the units he wanted to sell in the last run, he would be eager for more profit in the current run.

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