The FishMarket Tournaments

Second Edition

Barcelona 1998

Auctions


This page will be permanently under construction... Sorry about that mates


Auctions

The previous sections described the workings of the auction protocol. So, we have been already provided with some very important information like how much time our agents have to deliberate between two consecutive offers, and between two consecutive rounds. In addition to this, we would also need to know which goods are to be auctioned, and who our rivals are, i.e., what other buyers are participating in this tournament.

With respect to the goods to be auctioned, these are grouped together into what we call lots. The auctioneer will open a new auction every time that a new lot is meant to be sold. During a given auction, the auctioneer will auction off the fishboxes within a lot one by one. Therefore, every time a new fishbox is to be sold, the auctioneer will open a new auction round and then will start calling prices till any of the situations described by the downward bidding protocol arises.

What do buyers know about the goods to be auctioned? Before starting off the tournament, buyer agents only know the types of goods to be auctioned, the minimum and maximum number of fishboxes of each type of good, the minimum and maximum starting prices, and the minimum and maximum resale prices. In other words, precise information about the composition of each lot is not provided, but some hints instead. Buyers will be sent detailed information about the composition of lots at each tournament's run-time via their interagents as explained along the next section.

To summarize, when characterizing auctions we will refer to *:

goods
The composition lot of goods to be auctioned off during an auction will be generated according to the following uniform distributions.

Good

Number of fishboxes

Starting price

Resale price

cod

U[1..15]

U[1200..2000]

U[1500..3000]

tunafish

U[1..15]

U[800..1500]

U[1200..2500]

prawns

U[1..15]

U[4000..5000]

U[4500..9000]

halibut

U[1..15]

U[1000..2000,]

U[1500..3500]

haddock

U[1..15]

U[2000..3000]

U[2200..4000]

buyers
See list of participants (publicly available on May the 6th). Each buyer will be identified by his login along this tournament. Besides, each buyer will be endowed with an initial credit (still to be fixed), say 50.000 ptas. It is important to mention that:
  • all buyers are endowed with the same credit
  • every time a new auction is started off, the buyers' credits is reset to their initial value
dynamic descriptors
A different DBP dynamic descriptor could be defined for auctioning each good. However, for the sake of simplicity, all goods within each lot will be auctioned according to the DBP dynamic descriptor defined at the previous section.

* For the sake of simplicity, we have introduced simplified versions of auction rounds and auction which do not thoroughly fulfil their theoretic counterpart.


http://www.iiia.csic.es/Projects/fishmarket/tour-upc-98
tournament@iiia.csic.es
Updated: April, 29th 1998

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