Optimal Reserve Price Strategy for Sellers on An On-line Auction

摘要：

This paper studies the reserve price strategy for sellers based on the famous reverse auction website of Priceline Following some fundamental assumptions, the game theory is used to set up and analyze the model. Dierent from reserve price strategy in other auctions, the result of our analysis for sellers shows that the reserve price is increasing in the cost, and that the optimal reserve price is lower than his cost, but the expected dealing price, the bidding price of the bidder, is higher than his cost. Finally a numerical example is given to illustrate the result.

关键词： Game Theory Auctions On-line Auctions Priceline Reserve Price

作者: Yaqing Xu Yihua Wei Qiying Hu

作者单位: School of Economics and Management,Xidian University,Xian,710071,China College of International Business and Management,Shanghai University,Shanghai,201800,China

会议类型: 国际会议

会议名称: 工业工程与系统管理2007年国际会议(International Conference on Industrial Engineering and Systems Management)(IESM 2007)

会议地点: 北京

会议语种:英文

在线出版日期: 2007-05-30（万方平台首次上网日期，不代表论文的发表时间）