Title :
A comparative analysis of English Auction and First-price Sealed-bid Auction with Shill Biding
Author :
Shengli, Chen ; Yunfeng, Luo ; Xiaohua, Yang
Author_Institution :
Inst. of Syst. Eng., Huazhong Univ. of Sci. & Technol., Wuhan
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 bidderpsilas optimal biding strategy on english auction and first-price sealed-bid auction with shill biding. secondly, we discuss the relations between the sellerpsilas revenue and probability of shill biding and commission rate under two important auctions types. finally, we use honest bidderpsilas expected gain and honest sellerpsilas revenue as a basis to compare these two important auctions types, and interpret some bidding behavior in practice and give some suggestion.
Keywords :
decision making; electronic commerce; game theory; English auction; bidder expected gain; decision analysis method; first-price sealed-bid auction; game theory; online auctions; optimal bidding strategy; seller revenue; shill bidding; Game theory; Systems engineering and theory; English auction; First-price sealed-bid auction; Shill biding;
Conference_Titel :
Control Conference, 2008. CCC 2008. 27th Chinese
Conference_Location :
Kunming
Print_ISBN :
978-7-900719-70-6
Electronic_ISBN :
978-7-900719-70-6
DOI :
10.1109/CHICC.2008.4605811
