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Designing a Successful Bidding Strategy Using Fuzzy Sets and Agent Attitudes

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Web-based Support Systems

Part of the book series: Advanced Information and Knowledge Processing ((AI&KP))

Abstract

To be successful in a multi-attribute auction, agents must be capable of adapting to continuously changing bidding price. This chapter presents a novel fuzzy attitude-based bidding strategy (FA-Bid), which employs dual assessment technique, i.e., assessment of multiple attributes of the goods as well as assessment of agents’ attitude (eagerness) to procure an item in automated auction. The assessment of attributes adapts the fuzzy sets technique to handle uncertainty of the bidding process as well use heuristic rules to determine the attitude of bidding agents in simulated auctions to procure goods. The overall assessment is used to determine a price range based on current bid, which finally selects the best one as the new bid.

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Authors and Affiliations

  1. Faculty of Engineering and Information Technology University of Technology, Sydney, 123, Broadway, NSW, 2007, Australia

    Jun Ma & Madhu Lata Goyal

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  1. Jun Ma
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  2. Madhu Lata Goyal
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Correspondence to Jun Ma .

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Editors and Affiliations

  1. Dept. Computer Science, University of Regina, Wascana Parkway 3737, Regina, S4S 0A2, Canada

    JingTao Yao

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Ma, J., Goyal, M.L. (2010). Designing a Successful Bidding Strategy Using Fuzzy Sets and Agent Attitudes. In: Yao, J. (eds) Web-based Support Systems. Advanced Information and Knowledge Processing. Springer, London. https://doi.org/10.1007/978-1-84882-628-1_16

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  • DOI: https://doi.org/10.1007/978-1-84882-628-1_16

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  • Publisher Name: Springer, London

  • Print ISBN: 978-1-84882-627-4

  • Online ISBN: 978-1-84882-628-1

  • eBook Packages: Computer ScienceComputer Science (R0)

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