Intelligent Software Agents: Foundations and Applications
Intelligent Software Agents: Foundations and Applications
A heuristic bidding strategy for multiple heterogeneous auctions
ICEC '03 Proceedings of the 5th international conference on Electronic commerce
Optimal design of English auctions with discrete bid levels
Proceedings of the 6th ACM conference on Electronic commerce
A heuristic bidding strategy for buying multiple goods in multiple english auctions
ACM Transactions on Internet Technology (TOIT)
A Heuristic Based Seller Agent for Simultaneous English Auctions
Proceedings of the 2008 conference on ECAI 2008: 18th European Conference on Artificial Intelligence
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
An Introduction to MultiAgent Systems
An Introduction to MultiAgent Systems
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
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The growth of online auction is due to the flexibility and convenience that it offers to consumers. In the context of online auction, deriving the best reserve price can be associated to the seller's optimization problem. Determining this reserve price is not straightforward due to the dynamic and unpredictable nature of the auction environment. Setting the price too high will lead to the possibility of no sale outcome. Putting the price too low may produce a sale with less profit due to its lower selling price. The authors propose a strategy to derive the best reserve price based on several selling constraints such as the number of competitors sellers, the number of bidders, the auction duration, and the profit the seller desired when offering an item to be auctioned. However, to obtain the best performance, the strategy must be tuned to the prevailing auction environment where the agent is situated. This paper describes the seller agent's performance under varying auction environments. The purpose of the experimental evaluation is to assess the ability of the agent to identify its environments accurately to enable it to come up with the best reserve price.