Agent-Based CDAs and Bidding Strategies

Abstract

The role of agents in auctions is to represent their users, who may be buyers or sellers or the auctioneer, to achieve particular objectives [58], [54], [81], [83], [50]. Although there are many attributes concluded in the literature, some attributes are essential for CDAs we discuss in this book. First of all, we define exactly what we mean by the term “agent” in CDAs. An agent in CDAs is a software package that can be viewed as a delegate of his user to achieve a good performance which usually means a good profit. To this end, an agent must exhibit the following properties:

• Autonomy: The agent is capable of making decisions about what actions to take without constantly referring back to his user

• Adaptivity: The agent is capable of adjusting himself to environmental conditions based on trading history, etc