The effect of varying the crossover rate in the evolution of bidding strategies

Gan, Kim Soon and Patricia Anthony, and Teo, Jason Tze Wi (2008) The effect of varying the crossover rate in the evolution of bidding strategies. In: 4th IASTED International Conference on Advances in Computer Science and Technology (ACST 2008), 2 - 4 April 2008, Langkawi, Malaysia.

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Abstract

Many researchers have shown that the crossover operator is essential for genetic algorithm. Crossover in genetic algorithm works to combine short low-order schemata into high-fitness strings. This paper investigates the influences of the variation of crossover rate in genetic algorithms when applied to bidding strategies in online auctions. The proposed bidding strategy is polynomial in nature in which it will suggest the price to bid at a given time depending on some constraints. The best strategy is discovered by evolving the strategies using the traditional genetic algorithm. In this particular setting, GA has shown promising results in exploring the solution in large space and with little priori information. However, the crossover rate was fixed at 0.6 as suggested by the literature. It cannot be ascertained if this is the best value to use. Hence, the objective of this work is to investigate the effect of varying the crossover rate by observing the performance of the bidding strategy in the online auctions based on the average fitness, success rate and the average payoff. An empirical evaluation on the relative performance of the various crossover rates in genetic algorithm in searching for the most effective strategies in the heuristic decision making framework are discussed in this paper.

Item Type: Conference or Workshop Item (UNSPECIFIED)
Uncontrolled Keywords: Agent, Artificial intelligence, Crossover, Genetic algorithm, Simulation
Subjects: H Social Sciences > HF Commerce
Q Science > QA Mathematics > QA76 Computer software
Divisions: SCHOOL > School of Engineering and Information Technology
Depositing User: Unnamed user with email storage.bpmlib@ums.edu.my
Date Deposited: 25 Mar 2011 04:54
Last Modified: 30 Dec 2014 06:43
URI: http://eprints.ums.edu.my/id/eprint/1609

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