Title :
A comparative analysis of several auction types with shill bidding
Author :
Chen, Shuguang ; Liu, Xiaodong ; Chen, Shengli
Author_Institution :
Sch. of Inf., Xian Univ. of Finance & Econ., Xian, China
Abstract :
Aimed at the disadvantage of current research of shill bidding with different online auctions types, in this paper, Applying decision analysis method and game theory, firstly, we research the bidder´s optimal biding Strategy on English Auction, First-price Sealed-bid Auction and Second-price sealed-bid auction with Shill Bidding, respectively. Secondly, we use bidder´s expected gain and seller´s revenue as a basis to compare these three important auctions types, and interpret some bidding behavior in practice.
Keywords :
Internet; decision theory; electronic commerce; game theory; pricing; taxation; English auction; bidder expected gain; decision analysis method; first-price sealed-bid auction; game theory; online auctions; optimal bidding strategy; second price sealed-bid auction; seller revenue; shill bidding; Cost accounting; Distribution functions; Economics; Equations; Lead; Nash equilibrium; English auction; First-price sealed-bid auction; Second-price sealed-bid auction; Shill bidding;
Conference_Titel :
Business Management and Electronic Information (BMEI), 2011 International Conference on
Conference_Location :
Guangzhou
Print_ISBN :
978-1-61284-108-3
DOI :
10.1109/ICBMEI.2011.5920364
