| Download | - View accepted manuscript: A Decision-Theoretic Algorithm for Bundle Purchasing in Multiple Open Ascending-Price Auction (PDF, 303 KiB)
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| Author | Search for: Buffett, Scott; Search for: Grant, A. |
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| Format | Text, Article |
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| Conference | The 17th Conference of the Canadian Society for Computational Studies of Intelligence (AI 2004), May 17-19, 2004, London, Ontario, Canada |
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| Abstract | This paper presents an algorithm for decision-making where the buyer needs to procure one of possibly many bundles of complementary products, and items are sold individually in multiple open ascending price (English) auctions. Auctions have fixed start and end times, and some may run concurrently. Expected utility of a bidding choice is computed by considering expected utility of choices at future decisions. The problem is modeled as a Markov decision process, and dynamic programming is used to determine the value of bidding/not bidding in each state. Three techniques for reducing the state space are given. Results show that a bidding agent using this algorithm achieves significantly higher utility on average when compared with one that does not consider the value of future choices. |
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| Publication date | 2004 |
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| In | |
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| Language | English |
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| NRC number | NRCC 47144 |
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| NPARC number | 8914321 |
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| Export citation | Export as RIS |
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| Report a correction | Report a correction (opens in a new tab) |
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| Record identifier | b9b9b16b-ac2f-4ae3-93dc-21cbd53b3d0a |
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| Record created | 2009-04-22 |
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| Record modified | 2021-01-05 |
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