Browsing by Subject "auction"
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Item Strategies and heuristics used by the UMBCTAC agent in the third Trading Agent Competition(2003-08-13) Ding, Li; Finin, Tim; Shi, Youyong; Ding, Zhongli; Pan, RongThe UMBCTAC agent was one of the top ranked agents in the third international Trading Agent Com-petition (TAC'02). This paper describes and evalu-ates the key heuristics used by UMBCTAC, includ-ing the early bird heuristic, the balance heuristic, and the separation heuristic. We developed a simple gain-risk model to search safe and profitable allocations for hotel rooms and airline tickets. We also used a novel probabilistic approach to dynamically allocate entertainment tickets and bid in entertainment auc-tions. We conclude with a description of ongoing and planned work.