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Published in:
2008 | OriginalPaper | Chapter
Agent-Based CDAs and Bidding Strategies
Published in: Bidding Strategies in Agent-Based Continuous Double Auctions
Publisher: Birkhäuser Basel
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The role of agents in auctions is to represent their users, who may be buyers or sellers or the auctioneer, to achieve particular objectives [58], [54], [81], [83], [50]. Although there are many attributes concluded in the literature, some attributes are essential for CDAs we discuss in this book. First of all, we define exactly what we mean by the term “agent” in CDAs. An
agent in CDAs
is a software package that can be viewed as a delegate of his user to achieve a good performance which usually means a good profit. To this end, an agent must exhibit the following properties:
Autonomy: The agent is capable of making decisions about what actions to take without constantly referring back to his user
Adaptivity: The agent is capable of adjusting himself to environmental conditions based on trading history,
etc