E-commerce increasingly provides opportunities for autonomous bidding agents: computer programs that bid in electronic markets without direct human intervention. Automated bidding strategies for an auction of a single good with a known valuation are fairly straightforward; designing strategies for simultaneous auctions with interdependent valuations is a more complex undertaking. This book presents algorithmic advances and strategy ideas within an integrated bidding agent architecture that have emerged from recent work in this fast-growing area of research in academia and industry. The authors analyze several novel bidding approaches that developed from the Trading Agent Competition (TAC), held annually since 2000. The benchmark challenge for competing agents--to buy and sell multiple goods with interdependent valuations in simultaneous auctions of different types--encourages competitors to apply innovative techniques to a common task. The book traces the evolution of TAC and follows selected agents from conception through several competitions, presenting and analyzing detailed algorithms developed for autonomous bidding. Autonomous Bidding Agents provides the first integrated treatment of methods in this rapidly developing domain of AI. The authors--who introduced TAC and created some of its most successful agents--offer both an overview of current research and new results. Michael P. Wellman is Professor of Computer Science and Engineering and member of the Artificial Intelligence Laboratory at the University of Michigan, Ann Arbor. Amy Greenwald is Assistant Professor of Computer Science at Brown University. Peter Stone is Assistant Professor of Computer Sciences, Alfred P. Sloan Research Fellow, and Director of the Learning Agents Group at the University of Texas, Austin. He is the recipient of the International Joint Conference on Artificial Intelligence (IJCAI) 2007 Computers and Thought Award.

This book looks at multiagent systems that consist of teams of autonomous agents acting in real-time, noisy, collaborative, and adversarial environments. The book makes four main contributions to the fields of machine learning and multiagent systems.First, it describes an architecture within which a flexible team structure allows member agents to decompose a task into flexible roles and to switch roles while acting. Second, it presents layered learning, a general-purpose machine-learning method for complex domains in which learning a mapping directly from agents' sensors to their actuators is intractable with existing machine-learning methods. Third, the book introduces a new multiagent reinforcement learning algorithm--team-partitioned, opaque-transition reinforcement learning (TPOT-RL)--designed for domains in which agents cannot necessarily observe the state-changes caused by other agents' actions. The final contribution is a fully functioning multiagent system that incorporates learning in a real-time, noisy domain with teammates and adversaries--a computer-simulated robotic soccer team.Peter Stone's work is the basis for the CMUnited Robotic Soccer Team, which has dominated recent RoboCup competitions.
RoboCup not only helps roboticists to prove their theories in a realistic situation, but has drawn considerable public and professional attention to the field of intelligent robotics. The CMUnited team won the 1999 Stockholm simulator competition, outscoring its opponents by the rather impressive cumulative score of 110-0.