Analysis of bidder agents performance in simulated English auctions

Sow, Tian You (2011) Analysis of bidder agents performance in simulated English auctions. Masters thesis, Universiti Malaysia Sabah.

	Text 24 PAGES.pdf Download (884kB)
	Text FULLTEXT.pdf Restricted to Registered users only Download (3MB)

Abstract

Online auctions have provided an alternative trading method to exchange items without the geographical and time constraints. However, buyers would face difficulties in searching, monitoring, and selecting an auction to participate. As a consequence, agent technology is introduced to overcome these pitfalls. In this thesis, the performance of these intelligent agents are first evaluated with different groups of standard bidders (risk-aversion, risk neutral and risk seeking) separately. Next, these heuristic agents are tested against heterogeneous standard bidders in a marketplace. From the simulated results, by using intelligent bidder agents to participate in online auctions, it benefits the bidders in terms of winner’s utility and closing price. Next, a market populated with different groups of standard bidders and different groups of intelligent agents (Greedy agents, Heuristic agents and Sniping agents) is simulated. From the results obtained, the market economy is affected by implementing agent technology. One of the most obvious observations is the auction closing price decreases significantly as more agents are found in the market. Besides that, from the simulations conducted, it is observed that when the demography of the bidder agents is relatively smaller than the population of standard bidders, the bidder agents procured higher percentage of winning auctions. In the experiments conducted, the number of auctions and the number of participants are finite. Thus, sellers may not welcome bidder agents in joining their auctions since their revenues are reduced. Conversely, bidders would welcome the usage of these intelligent agents since these agents help them in purchasing the desired goods with greater savings.

Item Type:	Thesis (Masters)
Keyword:	Online auctions, Intelligent agents, Heuristic agents, Auction simulation, Agent technology
Subjects:	H Social Sciences > HF Commerce > HF1-6182 Commerce > HF5001-6182 Business > HF5469.7-5481 Markets. Fairs
Department:	SCHOOL > School of Engineering and Information Technology
Depositing User:	DG MASNIAH AHMAD -
Date Deposited:	12 Mar 2025 14:37
Last Modified:	12 Mar 2025 14:37
URI:	https://eprints.ums.edu.my/id/eprint/43117

Actions (login required)

View Item