The Impacts of Two-Side Commission on Dutch Auction
For the vast majority of business, the auction is the best way to realize an assortment of products with as broad a scope as possible and available for appropriate market price. To make the product transaction convenient, the auction often needs the participation of the auction house as a third party. The auction house charges some commissions for the service provided to the buyers and sellers. This paper induces commission in the standard auction model which considers buyers and sellers only and gives the analysis of buyers’ and sellers’ equilibrium strategies when both of them must pay commissions to the auction house. The optimal number of bidders and the setting strategy of commission rate are also discussed in this paper.
Jiang Xiaoli Qin Kaida
College of Management and Economics,Kunming University of Science & Technology,Kunming, P.R.China
国际会议
4th Conference on System Science,Management Science & System Dynamics(第四届系统科学、管理科学&系统动力学国际会议)
上海
英文
67-72
2010-12-10（万方平台首次上网日期，不代表论文的发表时间）