A Mathematical Programming Approach to Optimal Design of Dutch Auctions

摘要：

This paper is concerned with optimal design of Dutch auctions in which the bid levels are restricted to a finite set of values. We formulate this auctioning problem as a constrained nonlinear program and solve it with an aim to maximize the auctioneers average revenue. Additionally, some important properties of the optimal bid levels as well as the maximum expected revenue are presented.

关键词： Auction design Dutch auction Discrete bids

作者: Zhen Li Ching-Chung Kuo

作者单位: Department of Management University of North Texas, Denton, TX 76203, U.S.A

会议类型: 国际会议

会议名称: The Fourth International Conference on Operations and Supply Chain Management(第四届运营与供应链管理国际会议 ICOSCM 2010)

会议地点: 香港·广州

会议语种:英文

页码: 452-453

在线出版日期: 2010-07-25（万方平台首次上网日期，不代表论文的发表时间）