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 language||English (US)|
|Journal||Information Systems Research|
|State||Published - Sep 2003|
- Dynamic Pricing
- Online Auctions
ASJC Scopus subject areas
- Library and Information Sciences