Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
380006 | Electronic Commerce Research and Applications | 2007 | 16 Pages |
Abstract
A continuous double auction (CDA) is an efficient market institution for real-world trading of commodities and electronic marketplaces. In this paper, we present the design and analysis of a new bidding strategy for buyer and seller agents participating in agent-based CDAs. The strategy employs heuristic rules and a reasoning mechanism based on a two-level adaptive bid-determination method, including short-term and long-term attitudes. Agents adopting the strategy dynamically adjust their behaviors in response to the changes of the supply and demand relationships in the market. Experimental results show that agents adopting the strategy outperform agents using other strategies reported in the literature.
Related Topics
Physical Sciences and Engineering
Computer Science
Artificial Intelligence
Authors
Huiye Ma, Ho-Fung Leung,