Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions
Online auctions have provided an alternative trading method to exchange items without the geographical and time constraints. However, buyers would face difficulties in searching, monitoring, and selecting an auction to participate in. As a consequence, agent technology is introduced to overcome thes...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
IOS Press
2013
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| Online Access: | https://eprints.ums.edu.my/id/eprint/18879/1/Analyzing%20the%20performance%20of%20multiple%20agents.pdf |
| _version_ | 1825713300462108672 |
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| author | Sow, Jacob Patricia Anthony Ho, Chong Mun |
| author_facet | Sow, Jacob Patricia Anthony Ho, Chong Mun |
| author_sort | Sow, Jacob |
| collection | UMS |
| description | Online auctions have provided an alternative trading method to exchange items without the geographical and time constraints. However, buyers would face difficulties in searching, monitoring, and selecting an auction to participate in. As a consequence, agent technology is introduced to overcome these pitfalls. In this paper, heterogeneous intelligent agents and heterogeneous standard bidders are generated in a simulated auction market and their performances are measured. By doing so, it would further simulate the real online auction marketplace where bidders may have different bidding behaviors or implement different bidder agents. From the simulated results, the average winner's utility, the average number of winning auctions, the average closing price and the average median consumer surplus ratio are used to evaluate the winners' performances. From the results obtained, it is generalized that by using intelligent bidder agents to participate in online auctions, it benefits the bidders. Besides that, market economy is reviewed based on the results obtained. |
| first_indexed | 2024-03-06T02:54:25Z |
| format | Article |
| id | ums.eprints-18879 |
| institution | Universiti Malaysia Sabah |
| language | English |
| last_indexed | 2024-03-06T02:54:25Z |
| publishDate | 2013 |
| publisher | IOS Press |
| record_format | dspace |
| spelling | ums.eprints-188792018-02-18T11:57:44Z https://eprints.ums.edu.my/id/eprint/18879/ Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions Sow, Jacob Patricia Anthony Ho, Chong Mun Online auctions have provided an alternative trading method to exchange items without the geographical and time constraints. However, buyers would face difficulties in searching, monitoring, and selecting an auction to participate in. As a consequence, agent technology is introduced to overcome these pitfalls. In this paper, heterogeneous intelligent agents and heterogeneous standard bidders are generated in a simulated auction market and their performances are measured. By doing so, it would further simulate the real online auction marketplace where bidders may have different bidding behaviors or implement different bidder agents. From the simulated results, the average winner's utility, the average number of winning auctions, the average closing price and the average median consumer surplus ratio are used to evaluate the winners' performances. From the results obtained, it is generalized that by using intelligent bidder agents to participate in online auctions, it benefits the bidders. Besides that, market economy is reviewed based on the results obtained. IOS Press 2013 Article PeerReviewed text en https://eprints.ums.edu.my/id/eprint/18879/1/Analyzing%20the%20performance%20of%20multiple%20agents.pdf Sow, Jacob and Patricia Anthony and Ho, Chong Mun (2013) Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions. Web Intelligence and Agent Systems: An International Journal, 11 (2). pp. 185-199. ISSN 2405-6464 http://doi.org/10.3233/WIA-130270 |
| spellingShingle | Sow, Jacob Patricia Anthony Ho, Chong Mun Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions |
| title | Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions |
| title_full | Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions |
| title_fullStr | Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions |
| title_full_unstemmed | Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions |
| title_short | Analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions |
| title_sort | analyzing the performance of multiple agents with varying bidding behaviors and standard bidders in online auctions |
| url | https://eprints.ums.edu.my/id/eprint/18879/1/Analyzing%20the%20performance%20of%20multiple%20agents.pdf |
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