Auction analysis by normal form game approximation

M. Kaisers, K.P. Tuyls, F. Thuijsman, S. Parsons

    Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

    5 Citations (Scopus)

    Abstract

    Auctions are pervasive in today’s society and provide a variety of real markets. This article facilitates a strategic choice between a set of available trading strategies by introducing a methodology to approximate heuristic payoff tables by normal form games. An example from the auction domain is transformed by this means and an evolutionary game theory analysis is applied subsequently. The information loss in the normal form approximation is shown to be reasonably small such that the concise normal form representation can be leveraged in order to make strategic decisions in auctions. In particular, a mix of trading strategies that guarantees a certain profit is computed and further applications are indicated.
    Original languageEnglish
    Title of host publicationProceedings of the 2008 IEEE/WIC/ACM International Conference on Web Intelligence and Intelligent Agent Technology
    EditorsL. Jain, P. Lingras
    Place of PublicationPiscataway
    PublisherInstitute of Electrical and Electronics Engineers
    Pages447-450
    Volume2
    DOIs
    Publication statusPublished - 2009
    Eventconference; WI 2008 : 2008 IEEE/WIC/ACM International Conference on Web Intelligence and Intelligent Agent Technology, Sydney, Australia, 9-12 December 2008; 2008-12-09; 2008-12-12 -
    Duration: 9 Dec 200812 Dec 2008

    Conference

    Conferenceconference; WI 2008 : 2008 IEEE/WIC/ACM International Conference on Web Intelligence and Intelligent Agent Technology, Sydney, Australia, 9-12 December 2008; 2008-12-09; 2008-12-12
    Period9/12/0812/12/08
    OtherWI 2008 : 2008 IEEE/WIC/ACM International Conference on Web Intelligence and Intelligent Agent Technology, Sydney, Australia, 9-12 December 2008

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