| C. Preist, A. Byde, and C. Bartolini, "Economic dynamics of agents in multiple auctions," Proceedings of the 4th International Conference on Autonomous Agents (AGENTS'01), 2001. |
....to be conducted to determine to what extent the increase of the welfare is due to the probabilistic nature of the approach, and to what extent it is due to its systematic nature (i.e. the fact that probabilistic bidders bid in many auctions instead of just one) 4. RELATED WORK Preist et al. [11] propose an algorithm for agents that participate in simultaneous multi unit English auctions with the goal of obtaining N units of an item. In this algorithm, the agent starts by placing bids in the auctions with the lowest price. Each time that some of these bids are beaten, the agent replaces ....
....represents the market welfare for one simulation bundle. The straight line represents the linear regression on these points. auction that closes later. Preist et al. s approach di#ers from ours in at least 3 ways. First, we consider single unit auctions instead of multi unit auctions. Second, in [11] there is no equivalent of the concept of eagerness. Instead, the agent tries to maximise its chances of winning by systematically replacing lost bids with new ones at a higher price. As a result, the agent does not optimise the bidding price as much as the user s attitude toward the risk of not ....
[Article contains additional citation context not shown here]
C. Preist, A. Byde, and C. Bartolini. Economic dynamics of agents in multiple auctions. In Proc. of the 5th International Conference on Autonomous Agents, Montreal, Canada, May 2001. ACM Press.
....of XML based standards for business document exchange such as ebXML 5 , will make this issue more manageable. Finally, the issue of strategic bid planning, which is essentially a decision making problem under uncertainty, is currently the subject of intensive research. Ongoing studies (e.g. [10] and [2] have shown that this is a more complex and subtle problem than it may seem at first glance, even when the number of considered auctions is fixed, and the user only requests to obtain a single unit of a well identified type of item (which is the case addressed in this paper) Our ....
....to incrementally construct a probability function in the setting of the FPSB and English auctions. 3. 1 Construction of the probability functions The first method that we consider, subsequently called the exact probability estimation method, is inspired by the learning mechanism described in [10]. The idea of the method is that the probability of winning with a bid r, is equal to the number of times that the agent would have won, had it bid r in all the previous observed auctions, divided by the total number of auctions. Given a probability function P modelling the expected final price ....
[Article contains additional citation context not shown here]
C. Preist, A. Byde, and C. Bartolini. Economic dynamics of agents in multiple auctions. In Proc. of the 5th International Conference on Autonomous Agents, Montreal, Canada, May 2001. ACM Press.
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C. Preist, A. Byde, and C. Bartolini, "Economic dynamics of agents in multiple auctions," Proceedings of the 4th International Conference on Autonomous Agents (AGENTS'01), 2001.
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Preist, C., Byde, A., Bartolini, C.: Economic dynamics of agents in multiple auctions. In: Proceedings of the fifth international conference on Autonomous agents, ACM Press (2001) 545--551
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C. Preist, A. Byde, and C. Bartolini, "Economic dynamics of agents in multiple auctions," in Proceedings of the 5th International Conference on Autonomous Agents (AGENTS 2001.
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C. Preist, A. Byde, and C. Bartolini. Economic dynamics of agents in multiple auctions. In Proc. of the 5th International Conference on Autonomous Agents, pages 545--551, Montreal, Canada, May 2001. ACM Press.
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, C. Preist, A. Byde and C. Bartolini, "Economic Dynamics of Agents in Multiple Auctions", http://www.hpl.hp.com/agents/papers/aa2001d raft.pdf , last accessed 12/11/2001, HP Labs research paper.
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