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

Volume

3

fYear

2011

fDate

13-15 May 2011

Firstpage

736

Lastpage

739

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;

fLanguage

English

Publisher

ieee

Conference_Titel

Business Management and Electronic Information (BMEI), 2011 International Conference on

Conference_Location

Guangzhou

Print_ISBN

978-1-61284-108-3

Type

conf

DOI

10.1109/ICBMEI.2011.5920364

Filename

5920364