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An English Auction Protocol for Multi-attribute Items
Abstract and Figures
In this paper, we suggest using an English Auction Protocol for a procurement multi-attribute auction in which the item for sale is defined by several attributes, the buyer agent is the auctioneer, and the seller agents are the bidders. Such domains include auctions on task al- location, services, or compound products. At the beginning of the auc- tion the buyer agent announces the required properties of the item, and then various seller agents propose bids, which are composed of specific configurations that match its request. Each proposed bid should be bet- ter for the buyer agent than the previous bid, w.r.t. the announced re- quirements of the buyer agent. Finally, the last suggested bid will win, and the seller agent that suggested this bid will be committed to it. We consider two utility function models for the English auction protocols and provide the optimal bidding strategies for the seller agents and the optimal auction design for the buyer agents regarding both models.
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