Bidding strategy in continuous double auction market based on Fuzzy Cognitive Map

In this paper, through analyzing the fuzzy cognitive map inference mechanism and the continuous double auction market bidding process, the bidding process met a causal relationship. We design and analyze a new bidding strategy based on Fuzzy Cognitive Map (Fuzzy Cognitive Map bidding strategy, FCMBS), and build a model for Seller Agents with certain emotions based on FCMBS bidding strategy. FCMBS strategy is divided into three bidding stages, trader agent adopts different strategies depending on different bidding stages. Depending on the input information of market, seller agent model has three different emotional states. In the experiments, we study the performance of the FCMBS bidding strategy and compare it with other classic bidding strategies. Experimental results show that agents adopting the FCMBS bidding strategy were superior to the other strategies in terms of trading success rate and profit.