We investigate the problem of optimal bidding for a firm that in each period procures items to meet a random demand by participating in a finite sequence of auctions. We develop a new model for a firm where its item valuation derives from the sale of the acquired items via their demand distribution, sale price, acquisition cost, salvage value and lost sales. We establish monotonicity properties...

Abstract of thesis entitled “Design and implementation of intelligent auction agents for Mobile AGent-based Internet Commerce System (MAGICS)” submitted by Jie Zhang for the degree of Master of Philosophy at The Hong Kong Polytechnic University in January 2004.of thesis entitled “Design and implementation of intelligent auction agents for Mobile AGent-based Internet Commerce System (MAGICS)” su...

This paper presents a methodology to develop an optimal coordinated bidding strategy of a supplier considering hourly price-volume bid in Day-Ahead Energy Market (DAEM) and Balancing Energy market (BEM). In this work, a bi-level optimization problem has been proposed considering rivals’ bidding behavior, inter temporal constraints, and multi period auction. Lower level problem represents the ma...

The global liberalization of energy market and the evolving carbon policy have profound implication on a producer’s optimal generator portfolio problem. On one hand, the daily operational flexibility from a wellcomposed generator portfolio enables the producer to implement a more aggressive bidding strategy in the liberalized day-ahead market on a daily basis; on the other hand, the evolving ca...

This chapter addresses the complex scenario of multi cell OFDMA network resource allocation and interference control by auction theory. An auction framework that meets the properties of efficiency and incentive compatibility is proposed. We consider a multi-cell OFDMA network with Fractional Frequency Reuse (FFR) implementation. An auction is presented to allocate subcarriers. According to the ...

The research presented in this paper is concerned with creating optimal bidding strategies for online auctions. At present time online auctions, that are very popular today, have not been given proper attention. The strategies created using genetic programming were tested in an auction simulation environment in order to determine their strength. This paper describes the experimental setup, the ...

Bidding in simultaneous auctions is challenging because an agent’s value for a good in one auction may depend on the outcome of other auctions; that is, bidders face an exposure problem. Given the gap in our understanding (e.g., lack of game-theoretic solutions) of general simultaneous auction games, previous works have tackled the problem of how to bid in these games with heuristic strategies ...