Abstract
For a dynamic, evolving multiagent auction, we have developed an adaptive agent bidding strategy (called the p-strategy) based on stochastic modeling. The p-strategy takes into account the dynamics and resulting uncertainties of the auction process using stochastic modeling, and avoids the shortcomings of stochastic modeling by adaptively deciding when to use the model and when not to. Our experiments show that the p-strategy outperforms other candidate bidding strategies in a continuous double auction regardless of the status of the auction and the demography of the agent population.
| Original language | English |
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| Pages | 147-153 |
| Number of pages | 7 |
| Publication status | Published - 1999 Jan 1 |
| Event | Proceedings of the 1999 3rd International Conference on Autonomous Agents - Seattle, WA, USA Duration: 1999 May 1 → 1999 May 5 |
Conference
| Conference | Proceedings of the 1999 3rd International Conference on Autonomous Agents |
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| City | Seattle, WA, USA |
| Period | 99/5/1 → 99/5/5 |
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All Science Journal Classification (ASJC) codes
- Engineering(all)
Cite this
Park, S., Durfee, E. H., & Birmingham, W. P. (1999). Adaptive agent bidding strategy based on stochastic modeling. 147-153. Paper presented at Proceedings of the 1999 3rd International Conference on Autonomous Agents, Seattle, WA, USA, .