Replicating Online Yankee Auctions to Analyze Auctioneers' and Bidders' Strategies

Ravi Bapna, Paulo Goes, Alok Gupta

Research output: Contribution to journalArticle

80 Scopus citations

Abstract

The significance of simulation approach for examining the decision space for both bid takers and bid makers in web-based dynamic price setting processes was discussed. The simulation process was demonstrated by Yankee auctions. Hybrid-bidding strategies derived as a combination of three broad strategies, such as jump bidding and strategic-at-margin (SAM) bidding were also investigated.

Original languageEnglish (US)
Pages (from-to)244-268+315
JournalInformation Systems Research
Volume14
Issue number3
StatePublished - Sep 2003
Externally publishedYes

Keywords

  • Dynamic Pricing
  • Online Auctions
  • Simulation

ASJC Scopus subject areas

  • Management Information Systems
  • Information Systems
  • Computer Networks and Communications
  • Information Systems and Management
  • Library and Information Sciences

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