Multi Agent Communication System for Online Auction with Decision Support System by JADE and TRACE

TL;DR

This paper presents a multi-agent online auction advisory system using JADE and TRACE that provides bid recommendations and market insights to help participants make informed decisions.

Contribution

It introduces an integrated multi-agent system with decision support capabilities for online auctions, enhancing participant decision-making and monitoring.

Findings

Provides bid recommendations based on auction data

Generates statistical and market prediction reports

Improves participant decision-making efficiency

Abstract

The success of online auctions has given buyers access to greater product diversity with potentially lower prices. It has provided sellers with access to large numbers of potential buyers and reduced transaction costs by enabling auctions to take place without regard to time or place. However it is difficult to spend more time period with system and closely monitor the auction until auction participant wins the bid or closing of the auction. Determining which items to bid on or what may be the recommended bid and when to bid it are difficult questions to answer for online auction participants. The multi agent auction advisor system JADE and TRACE, which is connected with decision support system, gives the recommended bid to buyers for online auctions. The auction advisor system relies on intelligent agents both for the retrieval of relevant auction data and for the processing of that data to enable meaningful recommendations, statistical reports and market prediction report to be made to auction participants.