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Algorithm Design for Agents which Participate in Multiple Simultaneous Auctions
Preist, Chris
HPL-2000-88
Keyword(s): auctions; eservices; agents; negotiation
Abstract: In this paper, we discuss the design of algorithms for agents to use when participating in multiple simultaneous English auctions, aiming to purchase multiple goods. Firstly, we present a coordination algorithm, which ensures the agent places appropriate bids in the different auctions to buy exactly the right number of goods. Secondly, we combine this with an algorithm to determine what maximum bid an agent should place in an auction which is about to terminate. This algorithm combines a belief-based model of the auctions with a utility analysis. This analysis is to trade off the certain outcome of the terminating auction against the possible outcomes of the remaining auctions, and hence place appropriate bids in each.
13 Pages
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