USING FUZZY SET APPROACH IN MULTI-ATTRIBUTE AUTOMATED AUCTIONS

Madhu Goyal; Saroj Kaushik

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Paper

USING FUZZY SET APPROACH IN MULTI-ATTRIBUTE AUTOMATED AUCTIONS

Topics: Market-Spaces: Market Portals, Hubs, Auctions

In Proceedings of the 12th International Conference on Enterprise Information Systems - Volume 4: ICEIS, 81-85, 2010 , Funchal, Madeira, Portugal

Authors: Madhu Goyal ¹ and Saroj Kaushik ²

Affiliations: ¹ Faculty of Engineering and Information Technology, UTS, Australia ; ² Indian Institute of Technology, India

Keyword(s): Automated Auctions, Bidding Strategy, Fuzzy Sets, Software Agents.

Related Ontology Subjects/Areas/Topics: Enterprise Information Systems ; Market-Spaces: Market Portals, Hubs, Auctions ; Software Agents and Internet Computing

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.

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Paper citation in several formats:

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; ISSN 2184-4992, SciTePress, pages 81-85. DOI: 10.5220/0002897900810085

@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},
issn={2184-4992},
}

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
IS - 2184-4992
AU - Goyal, M.
AU - Kaushik, S.
PY - 2010
SP - 81
EP - 85
DO - 10.5220/0002897900810085
PB - SciTePress