Backward induction strategy (BIDS) for bidding in multiple auctions
نویسندگان
چکیده
We present a bidding strategy that enables an agent to bid in multiple English auctions. Based on a backward induction method, this Backward InDuction Strategy (BIDS) seeks to maximize the value of a utility function. In general, the agent needs to determine whether to bid in the next available auction. Note that it may be better to stop bidding if the current utility (the utility associated with the current bid price) is less than the expected utility of all of the subsequent auctions. Simulation results demonstrate the advantages of BIDS over other strategies.
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تاریخ انتشار 2003