DocumentCode
2987806
Title
Temporary Buyout Prices in Online Auctions
Author
Yao, Yan ; Zhu, Bangyi
Author_Institution
Sch. of Bus., East China Univ. of Sci. & Technol., Shanghai, China
fYear
2009
fDate
18-20 Jan. 2009
Firstpage
1
Lastpage
4
Abstract
Online auctions with a buyout price, as an innovation mode of Internet auction, are applied widely because of breaking the limitation of fixed time ending. In this paper, we introduce a dynamic temporary buyout model featuring risk-neutral bidders with uniform valuations and Poisson arrivals. Based on recent theoretical research results, we will show the seller´s optimal strategy on setting buyout price and reserve price. Moreover, our model suggests that there is an equilibrium which is the optimal for any bidder.
Keywords
Internet; electronic commerce; pricing; stochastic processes; Internet auction; Poisson arrivals; dynamic temporary buyout model; innovation mode; online auctions; reserve price; risk-neutral bidders; seller optimal strategy; Cost accounting; Insurance; Internet; Marketing and sales; Merchandise; Surges; Technological innovation;
fLanguage
English
Publisher
ieee
Conference_Titel
Computer Network and Multimedia Technology, 2009. CNMT 2009. International Symposium on
Conference_Location
Wuhan
Print_ISBN
978-1-4244-5272-9
Type
conf
DOI
10.1109/CNMT.2009.5374616
Filename
5374616
Link To Document