Auction analysis by normal form game approximation

Michael Kaisers; Karl Tuyls; Frank Thuijsman; Simon Parsons

doi:10.1109/WIIAT.2008.261

Auction analysis by normal form game approximation

Michael Kaisers, Karl Tuyls, Frank Thuijsman, Simon Parsons

Research output: Chapter in Book/Report/Conference proceeding › Chapter › Academic

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.

Original language	English
Title of host publication	Proceedings - 2008 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2008
Pages	447-450
Number of pages	4
DOIs	https://doi.org/10.1109/WIIAT.2008.261
Publication status	Published - 2008

Publication series

Series	Proceedings - 2008 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2008

Access to Document

10.1109/WIIAT.2008.261

http://www.mendeley.com/research/auction-analysis-normal-form-game-approximation

Cite this

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title = "Auction analysis by normal form game approximation",

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.",

author = "Michael Kaisers and Karl Tuyls and Frank Thuijsman and Simon Parsons",

year = "2008",

doi = "10.1109/WIIAT.2008.261",

language = "English",

isbn = "9780769534961",

series = "Proceedings - 2008 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2008",

pages = "447--450",

booktitle = "Proceedings - 2008 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2008",

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Auction analysis by normal form game approximation. / Kaisers, Michael; Tuyls, Karl; Thuijsman, Frank et al.
Proceedings - 2008 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2008. 2008. p. 447-450 (Proceedings - 2008 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2008).

Research output: Chapter in Book/Report/Conference proceeding › Chapter › Academic

TY - CHAP

T1 - Auction analysis by normal form game approximation

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AU - Tuyls, Karl

AU - Thuijsman, Frank

AU - Parsons, Simon

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DO - 10.1109/WIIAT.2008.261

M3 - Chapter

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T3 - Proceedings - 2008 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2008

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BT - Proceedings - 2008 IEEE/WIC/ACM International Conference on Intelligent Agent Technology, IAT 2008

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