A Variable Bid Increment Algorithm for Reverse English Auction
Pinson, Suzanne; Brigui, Imène (2010), A Variable Bid Increment Algorithm for Reverse English Auction, in Pellizzari, Paolo; Milone, Lucia; Li Calzi, Marco, Progress in Artificial Economics, Springer : Berlin, p. 41-51
Type
Communication / ConférenceDate
2010Book title
Progress in Artificial EconomicsBook author
Pellizzari, Paolo; Milone, Lucia; Li Calzi, MarcoPublisher
Springer
Series title
Lecture Notes in Economics and Mathematical SystemsSeries number
645Published in
Berlin
ISBN
978-3-642-13946-8 (Print) 978-3-642-13947-5 (Online)
Number of pages
100Pages
41-51
Publication identifier
Metadata
Show full item recordAuthor(s)
Pinson, SuzanneInstitut Supérieur de Gestion Paris [GrIIsG]
Brigui, Imène
Laboratoire d'analyse et modélisation de systèmes pour l'aide à la décision [LAMSADE]
Abstract (EN)
In this paper we propose multicriteria strategies for conducting automated reverse English auctions based on software agents. Reverse auctions gained popularity as a result of the emergence of Internet-based online auction tools. A buyer agent negotiates with several seller agents over a single product. The preference model is based on reference points which represent the desired values and the reservation values over each criterion. To insure process evolution, English auctions design often considers a bid increment that represents the minimal amount that a bidder must improve on the current best bid. Generally, the bid increment is fixed before the beginning of the process and kept invariant during the process. Our aim is to allow adjusting the bid increment as the auction process progresses. We propose an anytime algorithm based on an exponential smoothing method that adapts the bid increment to the auction context.Subjects / Keywords
algorithm; bid increment; Reverse English Auction; multicriteria strategiesRelated items
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