Title :
Using unsuccessful auction bids to identify latent demand
Author :
Huberman, Bernardo A. ; Hogg, Tad ; Swami, Arun
Author_Institution :
HP Sand Hill Lab., Palo Alto, CA, USA
Abstract :
We propose using the information revealed through auctions, including in particular the unsuccessful bids, to identify latent demand. Applied to combinatorial auctions for bundles of goods, this information can identify new bundles with particularly high valuations, expressed by their high complementarity. We present a simple algorithm for identifying these bundles, suitable for use with agent-based ecommerce systems
Keywords :
electronic commerce; multi-agent systems; combinatorial auctions; e-commerce systems; electronic economy; information on demand; latent demand; multiagent systerns; Consumer electronics; Cost accounting; Data mining; Internet; Laboratories; Mobile handsets; Multiagent systems; Pricing; Resource management; Space shuttles;
Conference_Titel :
Systems, Man, and Cybernetics, 2001 IEEE International Conference on
Conference_Location :
Tucson, AZ
Print_ISBN :
0-7803-7087-2
DOI :
10.1109/ICSMC.2001.971952
