A bidding strategy of multiple round auctions based on Genetic Network Programming

Recently, due to the development of the e-commerce, on-line auctions have become a common modern way to trade goods over web. In order to make the trade more efficient and more intelligent, a new strategy has been proposed for bid agents to participate in multiple round auctions to deal with multipl...

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Bibliographic Details
Main Authors: Chuan Yue, Shingo Mabu, Donggeng Yu, Yu Wang, Hirasawa, Kotaro
Format: Conference Proceeding
Language:English
Subjects:
Analytical models
Economic indicators
Genetics
History
Next generation networking
Programming
Training
Online Access:Request full text
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Summary:Recently, due to the development of the e-commerce, on-line auctions have become a common modern way to trade goods over web. In order to make the trade more efficient and more intelligent, a new strategy has been proposed for bid agents to participate in multiple round auctions to deal with multiple goods. The proposed strategy is developed based on evolutionary Genetic Network Programming (GNP), which uses directed graph structures for getting the optimal solution. In this paper, we considered the most popular two kinds of auctions, English auction and Dutch auction. It is found from the simulation results that the agents adopting the GNP-based strategy performed very well in terms of getting more goods with less money, and they can make their decisions dynamically in response to the changes of the multiple round environments both in English auction and Dutch auction.
ISSN:1089-778X
1941-0026
DOI:10.1109/CEC.2010.5586254