Adaptive Bidding in Single-sided Auctions Under Uncertainty
An Agent-based Approach in Market Engineering

Shows how software agents can be used to simulate bidding behaviour in electronic auctions. This book places emphasis on applying computational economics to market theory. It summarizes the most common agent-based simulation methods and tools and develops the simulation software AMASE.

The reader finds basic definitions and learns how to build an appropriate model for the posed research question. It is the first time that quantitative results are presented for the problem of valuation uncertainty. These results significantly contribute to existing research in computational economics and supplements interesting research aspects.

Introduction.- Economic Foundations.- Agent-based Computational Economics.- Methodological Approaches of MABS in Economics.- Agent-based Simulation Sofrware.- Simulation Design.- Assesment of the Simulation Results.- Conclusion.- Mathematical Proofs.- Simulation Data and Figures.