NDLI: Optimal Design of Online Auctions

Content Provider	IEEE Xplore Digital Library
Author	Chen Sheng-li Luo Yun-feng Dai Bao
Copyright Year	2007
Description	Author affiliation: Huazhong Univ. of Sci. & Technol., Wuhan (Chen Sheng-li; Luo Yun-feng)
Abstract	In this paper, we first analyze the characteristics of online auction and propose a general analysis framework about the design of online auction. We believe that the auctions rules, the random arrival process of bidders, the auctions time, the lot size and the auctions costs need to be considered on Internet auctions. Based on the properties of online auction and a general analysis framework related to the design of online auction, then we present single-unit and multi-unit optimal auction models in order to maximize the seller' expected profits whether the reserve price is public or private respectively. In single-unit auction, when the seller with public or private reserve price gain the maximal expected profit respectively, the optimal public reserve price is higher than the optimal private reserve price. In multi-unit auction, it is shown that the seller with private reserve price can gain the bigger profits than the seller with public reserve price. Finally, numerical results for two cases are given, where we compute the maximal expected total revenue. We show that the numerical results are consistent with the theoretical analysis.
Starting Page	64
Ending Page	70
File Size	4605170
Page Count	7
File Format	PDF
ISBN	9787560322780
DOI	10.1109/ICMSE.2007.4421826
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2007-08-20
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	HARBIN INSTITUTE OF TEC
Subject Keyword	online auction Costs Conference management multi-period optimal design Design engineering Technology management Engineering management Aggregates Web and internet services Optimal control Systems engineering and theory Marketing and sales
Content Type	Text
Resource Type	Article

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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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