In developing open, heterogeneous and distributed multi-agent systems researchers often face a problem of facilitating negotiation
and bargaining amongst agents. It is increasingly common to use auction mechanisms for negotiation in multi-agent systems.
The choice of auction mechanism and the bidding strategy of an agent are of central importance to the success of the agent
model. Our aim is to determine the best agent learning algorithm for bidding in a variety of single seller auction structures
in both static environments where a known optimal strategy exists and in complex environments where the optimal strategy may
be constantly changing. In this paper we present a model of single seller auctions and describe three adaptive agent algorithms
to learn strategies through repeated competition. We experiment in a range of auction environments of increasing complexity
to determine how well each agent performs, in relation to an optimal strategy in cases where one can be deduced, or in relation
to each other in other cases. We find that, with a uniform value distribution, a purely reactive agent based on Cliff’s ZIP
algorithm for continuous double auctions (CDA) performs well, although is outperformed in some cases by a memory based agent
based on the Gjerstad Dickhaut agent for CDA.
Keywords adaptive agents - auctions - zero intelligence plus