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Title: Backward induction strategy (BIDS) for bidding in multiple auctions
Authors: Zhang, J
Lee, RST
Chan, HCB 
Keywords: Internet
Electronic commerce
Software agents
Issue Date: 2003
Publisher: IEEE
Source: IEEE International Conference on Systems, Man and Cybernetics, 2003, 5-8 October 2003, v. 5, p. 4322-4327 How to cite?
Abstract: We present a bidding strategy that enables an agent to bid in multiple English auctions. Based on a backward induction method, 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.
ISBN: 0-7803-7952-7
ISSN: 1062-922X
DOI: 10.1109/ICSMC.2003.1245664
Appears in Collections:Conference Paper

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