Multi-Agent Simulation and Dynamic Online Auction.
|
Accession number;01A0340279
|
| Title;Multi-Agent Simulation and Dynamic Online Auction. |
| Author;
MIZUTA HIDEYUKI
(IBM Japan Ltd., Tokyo Res. Lab. Comp. Sci. Inst.)
|
Journal Title;IEIC Technical Report (Institute of Electronics, Information and Communication Engineers)
|
Journal Code:S0532B
|
ISSN:0913-5685
|
|
VOL.100;NO.529(AI2000 41-55);PAGE.31-36(2001)
|
| Figure&Table&Reference;FIG.5, REF.4 |
| Pub. Country;Japan |
| Language;Japanese |
| Abstract;The need to understand dynamic behavior in auctions is increasing with the popularization of online auctions. We describe simulations of a typical online auction, where the duration is fixed, and the second-highest price is continuously posted and determines the winner's payment. We modeled agents of two types: early bidders, who can bid any time during the auction period, and snipers, who wait till the last moments to bid. This allows us to study the interactions of the two types of bidders during the course of auctions, and the effects of the two strategies on the probability of winning, the final price, and the formation of price consensus in iterated auctions. (author abst.) |
|
|
|
Related Articles;
|
|
