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

Ravi Bapna, Paulo B Goes, Alok Gupta

Research output: Contribution to journalArticle

76 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)
JournalInformation Systems Research
Volume14
Issue number3
StatePublished - Sep 2003
Externally publishedYes

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Keywords

  • Dynamic Pricing
  • Online Auctions
  • Simulation

ASJC Scopus subject areas

  • Library and Information Sciences

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