A Long-Term Profit Seeking Strategy for Continuous Double Auctions in a Trading Agent Competition

  • Dionisis Kehagias
  • Panos Toulis
  • Pericles Mitkas
Conference paper

DOI: 10.1007/11752912_14

Part of the Lecture Notes in Computer Science book series (LNCS, volume 3955)
Cite this paper as:
Kehagias D., Toulis P., Mitkas P. (2006) A Long-Term Profit Seeking Strategy for Continuous Double Auctions in a Trading Agent Competition. In: Antoniou G., Potamias G., Spyropoulos C., Plexousakis D. (eds) Advances in Artificial Intelligence. SETN 2006. Lecture Notes in Computer Science, vol 3955. Springer, Berlin, Heidelberg

Abstract

This paper presents a new bidding strategy for continuous double auctions (CDA) designed for Mertacor, a successful trading agent, which won the first price in the “travel game” of Trading Agent Competition (TAC) for 2005. TAC provides a realistic benchmarking environment in which various travel commodities are offered in simultaneous online auctions. Among these, entertainment tickets are traded in CDA. The latter, represent the most dynamic part of the TAC game, in which agents are both sellers and buyers. In a CDA many uncertainty factors are introduced, because prices are constantly changing during the game and price fluctuations are hard to be predicted. In order to deal with these factors of uncertainty we have designed a strategy based on achieving a pre-defined long-term profit. This preserves the bidding attitude of our agent and shows flexibility in changes of the environment. We finally present and discuss the results of TAC-05, as well as an analysis of agents performance in the entertainment auctions.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2006

Authors and Affiliations

  • Dionisis Kehagias
    • 1
    • 2
  • Panos Toulis
    • 1
  • Pericles Mitkas
    • 1
    • 2
  1. 1.Department of Electrical and Computer EngineeringAristotle University of ThessalonikiThessalonikiGreece
  2. 2.Centre for Research and Technology HellasInformatics and Telematics InstituteThermiGreece

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