engleski

Agent-based simulation model of online auctions in NetLogo

The need to understand the behavior of bidders increases with the popularization of online auctions. Every bidder is seeking the way to buy items as cheap as possible, but then again all participants in the process should be satisfied. But there are bidders who participate in auctions and wait until the very last moment to submit their bids, not allowing others to react (properly) to their bids. So sometimes one doesn’t get some items because somebody offered less than 0.5% more money for the same item. For that reason we decided to simulate online auction(s) in order to see what would happen if, after the regular (English) auction was over, agents had an opportunity to offer within another (sealed-bid) auction. This would ensure that seller agents receive more money, but it would also allow (early) bidders to react to "late submissions" in order to buy items after all.

multiagent; auctions; simulation; NetLogo

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