An adaptive bidding agent for multiple English auctions: a neuro-fuzzy approach

This work presents the design, implementation and evaluation of a novel bidding strategy for obtaining goods in multiple overlapping English auctions. The strategy uses fuzzy sets to express trade-offs between multi-attribute goods and exploits neuro-fuzzy techniques to predict the expected closing prices of the auctions and to adapt the agent´s bidding strategy to reflect the type of environment in which it is situated. We show, through empirical evaluation against a number of methods proposed in the multiple auction literature, that our strategy performs effectively and robustly in a wide range of scenarios.