### Abstract

In this paper, we develop a new method for finding an optimal bidding strategy in sequential auctions, using a dynamic programming technique. The existing method assumes the utility of a user is represented in an additive form. Thus, the remaining endowment of money must be explicitly represented in each state. On the other hand, our method assumes the utility of a user can be represented in a quasi-linear form, and representing the payment as a state-transition cost. Accordingly, we can obtain more than an m-fold speed-up in the computation time, where m is the initial endowment of money. Furthermore, we have developed a method for obtaining a semi-optimal bidding strategy under budget constraints.

Original language | English |
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Title of host publication | Proceedings of the International Conference on Autonomous Agents |

Editors | J.P. Muller, E. Andre, S. Sen, C. Frasson |

Pages | 83-84 |

Number of pages | 2 |

Publication status | Published - 2001 |

Externally published | Yes |

Event | Fifth International Conference on Autonomous Agents - Montreal, Que., Canada Duration: May 28 2001 → Jun 1 2001 |

### Other

Other | Fifth International Conference on Autonomous Agents |
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Country | Canada |

City | Montreal, Que. |

Period | 5/28/01 → 6/1/01 |

### All Science Journal Classification (ASJC) codes

- Engineering(all)

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## Cite this

*Proceedings of the International Conference on Autonomous Agents*(pp. 83-84)