Agent bidding strategy and simulation in double auctions

Author

Ouyang, Fang-Rui ; Wang, Xian-jia ; Yang, Hong

Author_Institution

Inst. of Syst. Eng., Wuhan Univ., China

Volume

3

fYear

2004

fDate

26-29 Aug. 2004

Firstpage

1836

Abstract

As the highly autonomous software entity, agent has been used to implement complex systems. This paper develops two different bidding strategies that guide agent´s buying and selling behavior in a double auction, and simulates auction market by using the multi-agent development kit and Matlab platforms. Through the comparison of simulation results under those different strategies, we find that the profit of agents using fuzzy logic strategy is more than that of agents using evolution-bidding strategy.

Keywords

digital simulation; electronic commerce; fuzzy logic; fuzzy set theory; multi-agent systems; Matlab platforms; agent bidding strategy; agent buying behavior; agent selling behavior; autonomous software agent; autonomous software entity; complex systems; double auction market; evolution bidding strategy; fuzzy logic strategy; fuzzy set theory; multiagent development kit; Cost accounting; Fuzzy logic; Fuzzy set theory; Fuzzy sets; Game theory; Modeling; Software agents; Stochastic processes; Stock markets; Systems engineering and theory;

fLanguage

English

Publisher

ieee

Conference_Titel

Machine Learning and Cybernetics, 2004. Proceedings of 2004 International Conference on

Print_ISBN

0-7803-8403-2

Type

conf

DOI

10.1109/ICMLC.2004.1382075

Filename

1382075