Valuation
Problem: An auction’s negotiation based on bids. Bids represent values agents associate with their services
Strategy:
- Use competition to drive bidding to balance supply and demand
- Use strategic reasoning in emerging and/or unstable markets: e.g. a TPA decides the offer price when selling its query planning services.
Status:
- Stochastic reasoning handles uncertainty about:
- Bids offered by competition
- Reservation prices/costs of potential buyers/sellers
- Arrival rates of buyers and sellers at the auction
- Part of SMS; experiments ongoing...