Multi-agent Bidding Mechanism with Contract Log Learning Functionality

Conference paper
Part of the Advances in Intelligent and Soft Computing book series (AINSC, volume 151)

Abstract

This paper addresses the agent-based bidding mechanism under trading actions from supplier sites to demand sites. Bidding includes unit price, amount, and storage cost. This trading environment assumes to be completely competitive, which means an agent cannot detect the competitive agent information. To increase the success rate of bidding, the agent must learn its bidding strategy from the past trading log. Our agent estimates the appropriate bidding price from the past “success bids” and “failure bids” by using statistical analysis. Experimental results shows an agent with such learning functionality increases its rate of “success bids” by 45.6%, compared to the agent without such functionality.

Keywords

Negotiation Process Unit Price Coalition Structure Storage Cost Bidding Strategy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Kazuhiro Abe
    • 1
  • Masanori Akiyoshi
    • 1
  • Norihisa Komoda
    • 1
  1. 1.Osaka UniversityOsakaJapan

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