DocumentCode :
480835
Title :
Auction Analysis by Normal Form Game Approximation
Author :
Kaisers, Michael ; Tuyls, Karl ; Thuijsman, Frank ; Parsons, Simon
Author_Institution :
Eindhoven Univ. of Technol., Eindhoven
Volume :
2
fYear :
2008
fDate :
9-12 Dec. 2008
Firstpage :
447
Lastpage :
450
Abstract :
Auctions are pervasive in todaypsilas 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.
Keywords :
approximation theory; commerce; decision making; evolutionary computation; game theory; auction analysis; auction domain; available trading strategies; evolutionary game theory; heuristic payoff tables; normal form game approximation; real markets; strategic choice; strategic decision making; Approximation algorithms; Computer applications; Educational institutions; Game theory; Information analysis; Intelligent agent; Least squares approximation; Minerals; Societies; USA Councils; Auction theory; Evolutionary game theory; Multi-agent games;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Web Intelligence and Intelligent Agent Technology, 2008. WI-IAT '08. IEEE/WIC/ACM International Conference on
Conference_Location :
Sydney, NSW
Print_ISBN :
978-0-7695-3496-1
Type :
conf
DOI :
10.1109/WIIAT.2008.261
Filename :
4740664
Link To Document :
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