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view/download model file: an_auction_system_with_rivals.nlogo
This is an Agent Based Model inspired by www.bidrivals.com's online auction system.
Basically it replicates the environment of the real auctions considering three kind of acting agents.
1) Random Agents - which bid in a very random way
2) Observing Agents - they observe the mean price of previous auctions and then bid.
3) Bid Agent - Automatic agent which bid systematically once he entered in the auction.
Select the number of each breed and then run the auction by click on Go for one auction otherwise click on Go forever for repeated auctions.
The model can compute the mean price of repeated auctions. It also can show the initial endowment and the available time own by the winner.
The user can try many features of this model. Especially we have implemented the possibility to switch on/off each breed of agent and also the endowment. This makes possible to observe the influence that this has to the price of the auctioned good.
Although this is already at a good point the model can be extended considerably. The volunteer user can find true probabilities by observing the real auction and implement them in order to obtain an efficient strategy.
We have looked all around the net for similar models but we haven't find any. It is supposed to be an original work. All the credits goes to the authors and the helpfull Prof. Pietro Terna
In alphabetic order.
Matteo Bordone Molini - graduated student at University of Turin
Francesco Lovera - graduated student at University of Turin
Eni Rrema - graduated student at University of Turin