Book Details

Adaptive Bidding in Single-Sided Auctions under Uncertainty

Publication year: 2007

: 978-3-7643-8113-4

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In the last years electronic markets, especially online auctions, have become very popular and received more and more attention in both, business (B2B) as well as in public practice (B2C and C2C). Science, however, is still far from having studied all phenomena and effects which can be observed on electronic markets. This book shows that and how software agents can be used to simulate bidding behaviour in electronic auctions. The main emphasis of this book is to apply computational economics to market theory. It summarizes the most common and up-to-date agent-based simulation methods and tools and develops the simulation software AMASE. On basis of the introduced methods a model is established to simulate bidding behaviour under uncertainty.


: Computer Science, agent-based simulation, agents, bidding, computational economics, electronic markets, market design, market engineering, online auctions, reinforcement learning, simulation, software agent, uncertainty