An adaptive shill bidding agent

Trevathan, Jarrod, and Read, Wayne (2007) An adaptive shill bidding agent. In: Proceedings of the International Conference on e-Business 2007 (1), pp. 5-14. From: International Conference on E- Business 2007, 28-31 July 2007, Barcelona, Spain.

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Abstract

This paper presents a software bidding agent that inserts fake bids on the seller's behalf to inflate an auction's price. This behaviour is referred to as shill bidding. Shill bidding is strictly prohibited by online auctioneers, as it defrauds unsuspecting buyers by forcing them to pay more for the item. The malicious bidding agent was constructed to aid in developing shill detection techniques. We have previously documented a simple shill bidding agent that incrementally increases the auction price until it reaches the desired profit target, or it becomes too risky to continue bidding. This paper presents an adaptive shill bidding agent which when used over a series of auctions with substitutable items, can revise its strategy based on bidding behaviour in past auctions. The adaptive agent applies a novel prediction technique referred to as the Extremum Consistency (EC) algorithm, to determine the optimal price to aspire for. The EC algorithm has successfully been used in handwritten signature verification for determining the maximum and minimum values in an input stream. The ability of the agent to inflate the price has been tested in a simulated marketplace and experimental results are presented.

Item ID: 9339
Item Type: Conference Item (Refereed Research Paper - E1)
Keywords: autonomous bidding agent; shill bidding; online auctions; EC algorithm
Additional Information:

Paper with revised title reprinted in "E-business and Telecommunications 4th International Conference, ICETE 2007, Barcelona, Spain, July 28-31, 2007, Revised Selected Papers" http://www.springerlink.com/content/k73234n6324044m5/

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ISBN: 978-989-8111-11-1
ISSN: 1865-0937
Date Deposited: 28 Jun 2010 01:40
FoR Codes: 08 INFORMATION AND COMPUTING SCIENCES > 0899 Other Information and Computing Sciences > 089999 Information and Computing Sciences not elsewhere classified @ 100%
SEO Codes: 89 INFORMATION AND COMMUNICATION SERVICES > 8999 Other Information and Communication Services > 899999 Information and Communication Services not elsewhere classified @ 100%
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