Frontiers of electronic commerce
Frontiers of electronic commerce
The Michigan Internet AuctionBot: a configurable auction server for human and software agents
AGENTS '98 Proceedings of the second international conference on Autonomous agents
Efficient mechanisms for the supply of services in multi-agent environments
Proceedings of the first international conference on Information and computation economies
Adaptive agents in a persistent shout double auction
Proceedings of the first international conference on Information and computation economies
Commodity trading using an agent-based iterated double auction
Proceedings of the third annual conference on Autonomous Agents
An adaptive agent bidding strategy based on stochastic modeling
Proceedings of the third annual conference on Autonomous Agents
eMediator: a next generation electronic commerce server
AGENTS '00 Proceedings of the fourth international conference on Autonomous agents
A Real-Life Experiment in Creating an Agent Marketplace
Software Agents and Soft Computing: Towards Enhancing Machine Intelligence, Concepts and Applications
IJCAI '99 Proceedings of the Sixteenth International Joint Conference on Artificial Intelligence
Emergent Properties of a Market-based Digital Library with Strategic Agents
ICMAS '98 Proceedings of the 3rd International Conference on Multi Agent Systems
A probabilistic approach to automated bidding in alternative auctions
Proceedings of the 11th international conference on World Wide Web
The eager bidder problem: a fundamental problem of DAI and selected solutions
Proceedings of the first international joint conference on Autonomous agents and multiagent systems: part 2
Decision procedures for multiple auctions
Proceedings of the first international joint conference on Autonomous agents and multiagent systems: part 2
A Dynamic Programming Model for Algorithm Design in Simultaneous Auctions
WELCOM '01 Proceedings of the Second International Workshop on Electronic Commerce
Optimality and Risk in Purchase from Multiple Auctions
CIA '01 Proceedings of the 5th International Workshop on Cooperative Information Agents V
A Comparison among Bidding Algorithms for Multiple Auctions
AAMAS '02 Revised Papers from the Workshop on Agent Mediated Electronic Commerce on Agent-Mediated Electronic Commerce IV, Designing Mechanisms and Systems
Agent-based service composition through simultaneous negotiation in forward and reverse auctions
Proceedings of the 4th ACM conference on Electronic commerce
Agent mediated electronic commerce research at Hewlett Packard Labs, Bristol
ACM SIGecom Exchanges
A model for the configurable composition and synchronization of complex trading activities
Proceedings of the 2003 ACM symposium on Applied computing
Probabilistic Automated Bidding in Multiple Auctions
Electronic Commerce Research
Autonomous Adaptive Agents for Single Seller Sealed Bid Auctions
Autonomous Agents and Multi-Agent Systems
A taxonomy of market-based resource management systems for utility-driven cluster computing
Software—Practice & Experience
A heuristic bidding strategy for buying multiple goods in multiple english auctions
ACM Transactions on Internet Technology (TOIT)
Efficient Bidding Strategies for Simultaneous Cliff-Edge Environments
IAT '06 Proceedings of the IEEE/WIC/ACM international conference on Intelligent Agent Technology
Dynamic Reconfiguration of Multi-Agent Systems Based on Autonomy Oriented Computing
IAT '06 Proceedings of the IEEE/WIC/ACM international conference on Intelligent Agent Technology
Individual and Social Behaviour in the IPA Market with RL
SBIA '08 Proceedings of the 19th Brazilian Symposium on Artificial Intelligence: Advances in Artificial Intelligence
Learning the IPA market with individual and social rewards
Web Intelligence and Agent Systems
Algorithms for distributed winner determination in combinatorial auctions
AMEC'05 Proceedings of the 2005 international conference on Agent-Mediated Electronic Commerce: designing Trading Agents and Mechanisms
An overview of cooperative and competitive multiagent learning
LAMAS'05 Proceedings of the First international conference on Learning and Adaption in Multi-Agent Systems
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Over the last few years, electronic auctions have become an increasingly important aspect of e- commerce, both in the business to business and business to consumer domains. As a result of this, it is often possible to find many auctions selling similar goods on the web. However, when an individual is attempting to purchase such a good, they will usually bid in one, or a small number, of such auctions. This results in two forms of inefficiency. Firstly, the individual may pay more for the good than would be expected in an ideal market. Secondly, some sellers may fail to make a sale that could take place in an ideal market. In this paper, we present an agent that is able to participate in multiple auctions for a given good, placing bids appropriately to secure the cheapest price. We present experiments to show; (i) Current auction markets on the web are inefficient, with trades taking place away from equilibrium price, and not all benefit from trade being extracted. (ii) Our agent is able to exploit these inefficiencies, resulting in it making higher profits than the simple strategy of bidding in a small number of auctions. (iii) As more participants use our agent, the market becomes more efficient. When all participants use the agent, all trades take place close to equilibrium price, and the market approaches ideal behaviour.