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Genetic Algorithms versus Human Bidding Strategies for Auctions

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dc.affiliation.dptoUC3M. Departamento de Informáticaes
dc.affiliation.grupoinvUC3M. Grupo de Investigación: Computación Evolutiva y Redes Neuronales (EVANNAI)es
dc.contributor.authorMochón, Asunción
dc.contributor.authorQuintana, David
dc.contributor.authorIsasi, Pedro
dc.contributor.authorSáez Achaerandio, Yago
dc.date.accessioned2009-04-23T09:21:13Z
dc.date.available2009-04-23T09:21:13Z
dc.date.issued2005
dc.descriptionProceeding of: The fourth IEEE International Workshop WSTST ’05, Muroran, Japan, 25 - 27 May, 2005
dc.description.abstractThe increasing use of auctions has led to a growing interest in the subject. The objective of this paper is to develop a genetic algorithm to find optimum bidding strategies for Ausubel auctions. The algorithm provides the strategy (defined as the action to be taken under different market conditions) that maximizes pay off to the bidder. The algorithm is tested under a series of scenarios that differ in their composition of utility functions, number of bidders and quantity of lots auctioned. The results suggest that the approach leads to strategies that outperform sincere bidding systems.
dc.description.sponsorshipThis article has been financed by the Spanish founded research MCyT project TRACER, Ref: TIC2002-04498-C05-04
dc.format.mimetypeapplication/pdf
dc.identifier.bibliographicCitationSoft Computing as transdisciplinary science and technology. Berlin: Springer, 2005. P. 619-628 (Advances in Soft Computing; 29)
dc.identifier.doi10.1007/3-540-32391-0_67
dc.identifier.isbn978-3-540-25055-5
dc.identifier.issn1860-0794 (Online)
dc.identifier.publicationfirstpage619
dc.identifier.publicationlastpage628
dc.identifier.publicationtitleSoft Computing as transdisciplinary science and technology
dc.identifier.publicationvolume29
dc.identifier.urihttps://hdl.handle.net/10016/4058
dc.language.isoeng
dc.publisherSpringer
dc.relation.eventdate25 - 27 May, 2005
dc.relation.eventnumber4
dc.relation.eventplaceMuroran (Japan)
dc.relation.eventtitleIEEE International Workshop WSTST ’05
dc.relation.ispartofseriesAdvances in Soft Computing
dc.relation.ispartofseriesVolume 29/2005
dc.relation.publisherversionhttp://dx.doi.org/10.1007/3-540-32391-0_67
dc.rights© Springer
dc.rights.accessRightsopen access
dc.subjectGenetic algorithms
dc.subjectAscending multi-unit auctions
dc.subjectbidding strategy
dc.subject.ecienciaInformática
dc.titleGenetic Algorithms versus Human Bidding Strategies for Auctions
dc.typeconference paper*
dspace.entity.typePublication
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