A multi-criteria model for electronic auctions

ABSTRACT

In this paper we present a multi-criteria model for electronic auctions, which is based on reference points. According to the model, the buyer must specify an aspiration point that expresses his desired values on the attributes of the item to be purchased and a reservation point that represents the minimal values required. Negotiation takes place between software agents that negotiate on behalf of their human owners. The multi-criteria model allows the buyer agent to control the negotiation process on each attribute of the deal. We illustrate the use of this model by providing an auction mechanism based on an English reverse auction protocol.

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INDEX TERMS

Keywords:
electronic commerce, multi-attribute auction, software agents