USING FUZZY SET APPROACH IN MULTI-ATTRIBUTE AUTOMATED AUCTIONS

Madhu Goyal, Saroj Kaushik

Abstract

This paper designs a novel fuzzy attributes and competition based bidding strategy (FAC-Bid), in which the final best bid is calculated on the basis of the assessment of multiple attributes of the goods and the competition for the goods in the market. The assessment of attributes adapts the fuzzy sets technique to handle uncertainty of the bidding process. The bidding strategy also uses and determines competition in the market (based on the two factors i.e. no. of the bidders participating and the total time elapsed for an auction) using Mamdani’s Direct Method. Then the final price of the best bid will be determined based on the assessed attributes and the competition in the market using fuzzy reasoning technique.

References

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Paper Citation


in Harvard Style

Goyal M. and Kaushik S. (2010). USING FUZZY SET APPROACH IN MULTI-ATTRIBUTE AUTOMATED AUCTIONS . In Proceedings of the 12th International Conference on Enterprise Information Systems - Volume 4: ICEIS, ISBN 978-989-8425-07-2, pages 81-85. DOI: 10.5220/0002897900810085


in Bibtex Style

@conference{iceis10,
author={Madhu Goyal and Saroj Kaushik},
title={USING FUZZY SET APPROACH IN MULTI-ATTRIBUTE AUTOMATED AUCTIONS},
booktitle={Proceedings of the 12th International Conference on Enterprise Information Systems - Volume 4: ICEIS,},
year={2010},
pages={81-85},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0002897900810085},
isbn={978-989-8425-07-2},
}


in EndNote Style

TY - CONF
JO - Proceedings of the 12th International Conference on Enterprise Information Systems - Volume 4: ICEIS,
TI - USING FUZZY SET APPROACH IN MULTI-ATTRIBUTE AUTOMATED AUCTIONS
SN - 978-989-8425-07-2
AU - Goyal M.
AU - Kaushik S.
PY - 2010
SP - 81
EP - 85
DO - 10.5220/0002897900810085