Strategies and heuristics used by the UMBCTAC agent in the third Trading Agent Competition
Links to Fileshttps://ebiquity.umbc.edu/paper/html/id/139/Strategies-and-heuristics-used-by-the-UMBCTAC-agent-in-the-third-Trading-Agent-Competition
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Type of Work7 pages
conference papers and proceedings preprints
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The 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.