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Effect of Time Strategies on the Profit of Agents Using Adaptive Bid Softness Determination in Continuous Double Auctions with a Fixed Deadline

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2 Author(s)
Huiye Ma ; Dept. of Comput. Sci. & Eng., Chinese Univ. of Hong Kong ; Ho-fung Leung

In this paper, we consider continuous double auctions (CDAs) with a fixed deadline. The protocol allows the specification of a deadline since in real world trading, it is often essential to conclude a transaction among agents under a fixed deadline. Time strategies of agents are defined for buyers and sellers. The effect of different time strategies on the profit of agents submitting soft asks and soft bids is evaluated by experiments. It turns out that when it is easy for the agent to trade all his good, he should wait some time before getting involved in the trading process and utilize a large value of submission time in the time strategy. On the contrary, he should make a quicker decision by adopting a small value of submission time in the time strategy. Based on these results, an adaptive mechanism is designed to guide agents employing various bidding strategies to consider the effect of time. Fuzzy concepts are applied in the mechanism. Experimental results demonstrate that agents with the adaptive mechanism perform better than agents without the adaptive mechanism

Published in:

E-Commerce Technology, 2006. The 8th IEEE International Conference on and Enterprise Computing, E-Commerce, and E-Services, The 3rd IEEE International Conference on

Date of Conference:

26-29 June 2006