A Novel Fuzzy Attitude Based Bidding Strategy for Multi-attribute Auction

Authors:
Madhu Goyal;Jie Lu;Guangquan Zhang
Affiliations:
University of Technology, Sydney, Australia;University of Technology, Sydney, Australia;University of Technology, Sydney, Australia
Venue:
WI-IATW '06 Proceedings of the 2006 IEEE/WIC/ACM international conference on Web Intelligence and Intelligent Agent Technology
Year:
2006

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Abstract

Auctions have recently commanded a lot of attention in the field of multi-agent systems. To be successful in open multi-attribute auctions, agents must be capable of adapting different strategies and tactics to their prevailing circumstances. This paper presents a software test-bed for studying autonomous bidding strategies in simulated auctions for procuring goods. It shows that agents' bidding strategy explore the attitudes and behaviors that help agents to manage dynamic assessment of alternative prices of goods given the different scenario conditions. Our agent also uses fuzzy techniques for the decision making: to make decisions about the outcome of auctions, and to alter the agent's bidding strategy in response to the different criteria and market conditions.