### 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 |

### Fingerprint

### All Science Journal Classification (ASJC) codes

- Engineering(all)

### Cite this

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

**Determining bidding strategies in sequential auctions : Quasi-linear utility and budget constraints.** / Hattori, H.; Yokoo, Makoto; Sakurai, Y.; Shintani, T.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

*Proceedings of the International Conference on Autonomous Agents.*pp. 83-84, Fifth International Conference on Autonomous Agents, Montreal, Que., Canada, 5/28/01.

}

TY - GEN

T1 - Determining bidding strategies in sequential auctions

T2 - Quasi-linear utility and budget constraints

AU - Hattori, H.

AU - Yokoo, Makoto

AU - Sakurai, Y.

AU - Shintani, T.

PY - 2001

Y1 - 2001

N2 - 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.

AB - 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.

UR - http://www.scopus.com/inward/record.url?scp=0034826810&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0034826810&partnerID=8YFLogxK

M3 - Conference contribution

AN - SCOPUS:0034826810

SP - 83

EP - 84

BT - Proceedings of the International Conference on Autonomous Agents

A2 - Muller, J.P.

A2 - Andre, E.

A2 - Sen, S.

A2 - Frasson, C.

ER -