RT Conference Proceedings
T1 Genetic Algorithms versus Human Bidding Strategies for Auctions
A1 Mochón, Asunción
A1 Quintana, David
A1 Isasi, Pedro
A1 Sáez Achaerandio, Yago
K1 Genetic algorithms
K1 Ascending multi-unit auctions
K1 bidding strategy
AB The 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.
PB Springer
SN 978-3-540-25055-5
SN 1860-0794 (Online)
YR 2005
FD 2005
LK https://hdl.handle.net/10016/4058
UL https://hdl.handle.net/10016/4058
LA eng
NO Proceeding of: The fourth IEEE International Workshop WSTST ’05, Muroran, Japan,  25 - 27 May, 2005
NO This article has been financed by the Spanish founded research MCyT project TRACER, Ref: TIC2002-04498-C05-04
DS e-Archivo
RD 31 may. 2024