Bidding Strategy and Participating Threshold in Online English Auction with Buy-it-now Option

摘要：

English auctions with a buy-it-now option are widely used in the Internet. This paper proposes a weakly dominant bidding strategy. It is optimal for bidders whose valuations are lower than the buy-itnow price to participate in the auction and bid their true valuations. Otherwise, bidders whose valuations are not lower than the buy-it-now price would make a choice between participating in the auction and pressing the buy-it-now button. It is optimal to bid the buy-it-now price if they decide to participate in the auction. We find that their decision on whether to participate in the auction or choose the buy-it-now significantly depends on the time remaining to-the end of the auction.

关键词： Online auction bidder strategy buy-it-now price

作者: Li DU Gui-fen HUA

作者单位: School of Economics & Management,Xidian University,Xian,China

会议类型: 国际会议

会议名称: 2010 IEEE 17th International Conference on Industrial Engineering and Engineering Management(2010年IEEE第17届工业工程与工程管理国际学术会议)

会议地点: 厦门

会议语种:英文

页码: 311-315

在线出版日期: 2010-10-29（万方平台首次上网日期，不代表论文的发表时间）