A Fuzzy Bidding Strategy in Automated Auctions using Agent's Perspective.

Abstract

This paper presents a unique fuzzy attitude based bidding strategy (FA-Bid), which employs overall assessment technique,which is combination of assessment of multiple attributes of goods and assessment of agent's attitudes to procure an item in automated auction.The assessment of attributes adapts fuzzy set technique to handle uncertainty of bidding process as well as heuristic rules to determine attitude of agents in simulated auctions to procure goods.The overall assessment is used to determine a price range based on current bid, which finally selects the best one as the new bid.