Maximizing bidder's profit in online auctions using grey system theory's predictor agent
نویسندگان
چکیده
منابع مشابه
The Performance of Grey System Agent and ANN Agent in Predicting Closing Prices for Online Auctions
The introduction of online auction has resulted in a rich collection of problems and issues especially in the bidding process. During the bidding process, bidders have to monitor multiple auction houses, pick from the many auctions to participate in and make the right bid. If bidders are able to predict the closing price for each auction, then they are able to make a better decision making on t...
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When second-price auctions have been conducted in the laboratory, most of the observed bids have been “overbids” (bids that exceed the bidder’s value) and there are very few underbids. Few if any of the subjects in those experiments had any prior experience bidding in auctions. We report on an experiment in which the subjects had substantial prior experience: they were highly experienced partic...
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There is much active research into the design of automated bidding agents, particularly for environments that involve multiple decoupled auctions. These settings are complex partly because an agent’s strategy depends on information about other bidders’ interests. When bidders’ valuation distributions are not known ex ante, machine learning techniques can be used to approximate them from histori...
متن کاملCombinatorial Auctions with Online XOS Bidders
In combinatorial auctions, a designer must decide how to allocate a set of indivisible items amongst a set of bidders. Each bidder has a valuation function which gives the utility they obtain from any subset of the items. Our focus is specifically on welfare maximization, where the objective is to maximize the sum of valuations that the bidders place on the items that they were allocated (the v...
متن کاملAn Empirical Classification of Bidders in Online Auctions
Auctions have been a popular way of transaction on the Internet. Most of the studies of auction assume participants attending the auction are homogeneous. However, this assumption is open to question. In fact, every participant has his own personality, risk attitude, behavior, and cost when attending online auctions. This study takes an empirical approach and uses four variables, time of entry,...
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ژورنال
عنوان ژورنال: Grey Systems: Theory and Application
سال: 2012
ISSN: 2043-9377
DOI: 10.1108/20439371211260090