Abstract of /TIGKI/INFOSYS/FKI/FKI-241-00

Document-Name:  fki-241-00.ps.gz
Title:		Antisocial Bidding in Repeated Vickrey Auctions
Authors:	Felix Brandt 
Revision-Date:	November 2000
Category:	Technical Report (Forschungsberichte Künstliche Intelligenz)
Abstract:	In recent years auctions have become more and more
		important in the field of multiagent systems as useful 
		mechanisms for resource allocation and task assignment.
		In many cases the Vickrey (second-price sealed-bid)
		auction is used as a protocol that prescribes how the 
		individual agents have to interact in order to come to
		an agreement. The main reasons for choosing the
		Vickrey auction are the low bandwidth and time
		consumption due to just one round of bidding and the 
		existence of a dominant bidding strategy under certain 
		conditions. 
		We show that the Vickrey auction, despite its theoretical
		benefits, is inappropriate if ``antisocial'' agents 
		participate in the auction process. More specifically,
		an antisocial attitude for economic agents that makes
		reducing the profit of competitors their main goal
		besides maximizing their own profit is
		introduced. Under this  novel condition, agents need
		to deviate from the dominant truth-telling strategy.  
		This report presents a strategy for bidders in
		repeated Vickrey auctions who are intending to inflict
		losses to fellow agents in order to be more 
		successful, not in absolute measures, but relatively
		to the group of bidders. The strategy is evaluated in
		a simple task allocation scenario.
Keywords:	agents, auctions, task assignment
Size:		14 pages
Language:	English
ISSN:		0941-6358
Copyright:      The ``Forschungsberichte Künstliche Intelligenz''
                series includes primarily preliminary publications,
                specialized partial results, and supplementary
                material. In the interest of a subsequent final
                publication these reports should not be copied. All
                rights and the responsibility for the contents of the
                report are with the authors, who would appreciate
                critical comments.

Matthias Nickles