optimalstartingpriceforebaylikeonlineauctions

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	optimalstartingpriceforebaylikeonlineauctions
	Hai Yu 1; Shongyang Wang 1; Chuangyin Dang 2
	2006
发表期刊	journalofsystemsscienceandcomplexity
ISSN	1009-6124
卷号	19 期号:1 页码:9
摘要	Reserve price auctions are one of hot research issues in traditional auction theory. Here we study the starting price in an online auction, the counterpart of the public reserve price in a traditional auction. By considering three features of eBay-like online auctions: stochastic entry of bidders (subject to Poisson process), insertion fee proportional to the starting price, and time discount, we have analyzed the properties of extremum points of the starting price for maximizing the seller's expected revenue, and found that, under certain conditions, the optimal starting price should be at the lowest allowable level, which is contrary to the results from the classic auction theory and finds its optimality in reality. We have also developed a general extended model of multistage auctions and carried out analysis on its properties. At last, some directions for further research are also put forward.
语种	英语
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/45592
专题	中国科学院数学与系统科学研究院
作者单位	1.中国科学院数学与系统科学研究院 2.香港城市大学
推荐引用方式 GB/T 7714	Hai Yu,Shongyang Wang,Chuangyin Dang. optimalstartingpriceforebaylikeonlineauctions[J]. journalofsystemsscienceandcomplexity,2006,19(1):9.
APA	Hai Yu,Shongyang Wang,&Chuangyin Dang.(2006).optimalstartingpriceforebaylikeonlineauctions.journalofsystemsscienceandcomplexity,19(1),9.
MLA	Hai Yu,et al."optimalstartingpriceforebaylikeonlineauctions".journalofsystemsscienceandcomplexity 19.1(2006):9.