Self-Confirming Price Prediction for Bidding in Simultaneous Ascending Auctions
dc.contributor.author | Anna, Osepayshvili | |
dc.contributor.author | Wellman, Michael P. | |
dc.contributor.author | Reeves, Daniel M. | |
dc.contributor.author | MacKie-Mason, Jeffrey K. | |
dc.date.accessioned | 2007-03-17T21:11:29Z | |
dc.date.available | 2007-03-17T21:11:29Z | |
dc.date.issued | 2005-07 | |
dc.identifier.citation | Proceedings of the 21st Conference on Uncertainty in Artificial Intelligence (UAI 2005), (July 2005). <http://hdl.handle.net/2027.42/49509> | en |
dc.identifier.uri | https://hdl.handle.net/2027.42/49509 | |
dc.description.abstract | Simultaneous ascending auctions present agents with the exposure problem: bidding to acquire a bundle risks the possibility of obtaining an undesired subset of the goods. Auction theory provides little guidance for dealing with this problem. We present a new family of decisiontheoretic bidding strategies that use probabilistic predictions of final prices. We focus on selfconfirming price distribution predictions, which by definition turn out to be correct when all agents bid decision-theoretically based on them. Bidding based on these is provably not optimal in general, but our experimental evidence indicates the strategy can be quite effective compared to other known methods. | en |
dc.format.extent | 90174 bytes | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en_US | en |
dc.title | Self-Confirming Price Prediction for Bidding in Simultaneous Ascending Auctions | en |
dc.type | Conference Paper | en_US |
dc.subject.hlbsecondlevel | Information and Library Science | |
dc.subject.hlbtoplevel | Social Sciences | |
dc.contributor.affiliationum | Information, School of | en |
dc.contributor.affiliationumcampus | Ann Arbor | en |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/49509/1/ppsaa.pdf | en_US |
dc.owningcollname | Information, School of (SI) |
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