Paper Info
Title
Model-Based Specification of Flexible and Complex Bidding Strategies in Agent-Based Online Auctions
Abstract
Current implementations of agent-based online auction systems only support simple predefined bidding strategies for bidding agents. In this paper, we introduce a formal bidding strategy model for specification of flexible and complex bidding strategies. The formal model is defined as a layered bidding strategy model (LBSM), which can be represented using notations borrowed from UML activity diagrams. To support real-time and efficient reasoning, the formal model is converted into a rule-based bidding strategy model (RBSM) specified in bidding strategy language (BSL) that can be directly executed by a reasoning module of a bidding agent. We present an algorithm for converting an LBSM to an RBSM, and an algorithm to drive the reasoning engine. Finally, we develop a prototype agent-based online auction system using JADE, and illustrate how flexible and complex bidding strategies can be precisely specified and efficiently executed.
Year
DOI
Venue
2009
10.1109/ITNG.2009.29
ITNG
Keywords
Field
DocType
complex bidding strategies,rule-based bidding strategy model,agent-based online auctions,formal bidding strategy model,complex bidding strategy,model-based specification,reasoning engine,efficient reasoning,simple predefined bidding strategy,bidding agent,formal model,layered bidding strategy model,bidding strategy language,probability density function,software agents,software agent,stochastic processes,activity diagram,uncertainty,information technology,production,switches,computer science,uml activity diagram,rule based,engines,cognition,data mining,logic,formal specifications,information science,electronic commerce,formal specification,unified modeling language
Semantic reasoner,Unified Modeling Language,Software engineering,Computer science,Simulation,Software agent,Formal specification,Activity diagram,Common value auction,Bidding,Ebidding,Distributed computing
Conference
Citations 
PageRank 
References 
5
0.52
12
Authors
4
Name
Order
Citations
PageRank
Benjamin J. Ford11067.92
Haiping Xu238542.47
Christopher K. Bates3392.84
Sol M. Shatz446955.25