Title :
A bidding strategy between agents based on double auction
Author :
Zhou, X. ; Bao, Z.Q. ; Zhao, Y.Q. ; Wang, W.Y.
Author_Institution :
Inf. Eng. Coll., Yangzhou Univ., Yangzhou, China
Abstract :
In some systems, running after a period of time, agents form cooperation partnership. However, there are two problems in the bidding strategy of double auction between cooperative agents. Firstly, the auctioneer or bidder can´t make an effective response to the pricing program while the opposite changes itself strategy. Secondly, because of incomplete information, the bargain efficiency is low in equilibrium. Aimed at these problems, a conception of favor degree is presented from the views of both auctioneer and bidder, and it is used to simulate the stimulation of nerve cells. This paper brings forward a novel bidding strategy of double auction based on the favor degree, which makes the two agents call for the long-term interests rather than immediate interests. So this strategy enlarges the trading range and improves the trading efficiency. Finally, the validity of the model is proved by a case.
Keywords :
commerce; game theory; bidding strategy; cooperation partnership; cooperative agents; double auction; incomplete information; long-term interests; Educational institutions; Pricing; Multi-agent; cooperation partner; double auction; favor degree;
Conference_Titel :
Industrial Engineering and Engineering Management, 2009. IE&EM '09. 16th International Conference on
Conference_Location :
Beijing
Print_ISBN :
978-1-4244-3671-2
Electronic_ISBN :
978-1-4244-3672-9
DOI :
10.1109/ICIEEM.2009.5344275