Sardine: dynamic seller strategies in an auction marketplace
Proceedings of the 2nd ACM conference on Electronic commerce
Managing Online Auctions: Current Business and Research Issues
Management Science
Sellers competing for buyers in online markets: reserve prices, shill bids, and auction fees
IJCAI'07 Proceedings of the 20th international joint conference on Artifical intelligence
Reserve price recommendation by similarity-based time series analysis for internet auction systems
KES'06 Proceedings of the 10th international conference on Knowledge-Based Intelligent Information and Engineering Systems - Volume Part I
Autonomous Seller Agent for Multiple Simultaneous English Auctions
International Journal of Agent Technologies and Systems
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The popularity of online auction emerges due to the flexibility and convenience that it offers to consumers. Sellers offer a variety of items for sale with the aims of obtaining more profit. To obtain a reasonable profit, the reserve price for the item must be determined before the item is put up for sale. However, setting the price too high may result in no sale, while setting the price too low may yield a lower profit. In real auction, this is the main selling problem since most sellers fail to place a strategic reserve price for a given item which results in a lower profit. In this work, we develop a seller agent that proposes the item's reserve price based upon several selling constraints that comprise of the number of competitors, the number of bidders, the duration of the auction and the degree of profit that the seller desires when disposing the item. This paper describes the detail implementation and design of our agent's strategy. The seller strategy will be evaluated across a wide context of diverse and varying selling environment using a simulated auction marketplace.