会议专题

COMPETITIVE ANALYSIS OF ON-LINE LIMITED AUCTION

This paper is concerned with the on-line auction. For this problem, at each period a new bid is announced and the auctioneer must decide how many goods to sell according to the current bid without knowing future bid sequences. Such settings occur in computerized auction as well as in other settings. We describe some properties of the bidders’ private information into two variants. Using the competitive ratio as a performance measure we determine the optimal competitive auction strategies for these two variants. Furthermore, we present a simple average auction strategy and prove it is optimal for the first variant. We also show that the threat auction strategy is optimal and determine its competitive ratio, which yields a low competitive ratio for the second realistic variant.

On-line auction Competitive analysis Competitive ratio Auction strategy

Lili Ding Changhong Zhou Yan Guo

School of Economics and Management, Shandong University of Science and Technology, Qingdao, P.R. China

国际会议

1st International Conference on Logistics,Informatics and Service Science(2011物流、信息化与服务科学国际会议 LISS 2011)

北京

英文

637-640

2011-06-08(万方平台首次上网日期,不代表论文的发表时间)