Optimal design of english auctions with discrete bid levels

ACM Transactions on Internet Technology

Volumn 7, Issue 2, 2007, Pages

  David, Esther ^a   Rogers, Alex ^a   Jennings, Nicholas R ^a   Schiff, Jeremy ^b   Kraus, Sarit ^b   Rothkopf, Michael H ^c  

^a UNIVERSITY OF SOUTHAMPTON   (United Kingdom)

^b BAR ILAN UNIVERSITY   (Israel)

^c RUTGERS BUSINESS SCHOOL   (United States)

Author keywords

Discrete bids; English auction; Optimal auction design

Indexed keywords

CANONICAL AUCTION PROTOCOLS; DISCRETE BID LEVELS; ONLINE AUCTIONS;

ELECTRONIC DATA INTERCHANGE; FINANCIAL DATA PROCESSING; MATHEMATICAL MODELS; NUMERICAL METHODS; ONLINE SYSTEMS;

INTERNET PROTOCOLS;

EID: 34250178068     PISSN: 15335399     EISSN: 15576051     Source Type: Journal    
DOI: 10.1145/1239971.1239976     Document Type: Article

References (21)

1. ANTHONY, P. AND JENNINGS, N. R. 2003. Developing a bidding agent for multiple heterogeneous auctions. ACM Trans. Intern. Tech. 3, 3, 185-217.
2. BAJARI, P. AND HORTACSU, A. 2003. The winneris curse, reserve prices, and endogenous entry: Empirical insights from eBay auctions. RAND J. Econom. 34, 2, 329-355.
3. BAPNA, R., GOES, P., AND GUPTA, A. 2003. Analysis and design of business-to-consumer online auctions. Manage, Sci. 49, 1, 85-101.
4. BAPNA, R., GOES, P., GUPTA, A., AND KARUGA, G. 2002. Optimal design of the online auction channel: Analytical, empirical and computational insights. Decision Sci. 33, 4, 557-577.
5. BLUMROSEN, L., NISAN, N., AND SEGAL, I. 2007. Auctions with severely bounded communication. J. AI Resear. 25, 233-266.
6. CASSIDY, R. 1967. Auctions and Auctioneering. University of California Press.
7. CHWE, M. S. 1989. The discrete bid first auction. Econom. Lett. 31, 303-306.
8. DAVID, E., ROGERS, A., SCHIFF, J., KRAUS, S., AND JENNINGS, N. R. 2005. Optimal design of English auctions with discrete bid levels. In Proceedings of ACM Conference on Electronic Commerce (EC'05). 98-107.
9. HAGEMAN, L. A. AND YOUNG, D. M. 1981. Applied Iterative Methods. Academic Press.
10. JIANG, A. X. AND LEYTON-BROWN, K. 2005. Estimating bidders' valuation distributions in online auctions. In Proceedings of IJCAI-05 Workshop on Game Theoretic and Decision Theoretic Agents, 98-107.
11. KRESS, A. AND BOUTILIER, C. 2004. A study of limited-precision, incremental elicitation in auctions. In Proceedings of the 3rd International Joint Conference on Autonomous Agents and Multiagent Systems (AAMAS' 04). 1344-1345.
12. LEVIN, D. AND SMITH, J. L. 1994. Equilibrium in auctions with entry. Amer. Econom. Rev. 84, 3, 585-99.
13. LUCKING-REILEY, D. H. 2000. Auctions on the Internet: What's being auctioned, and how? J. Indus. Econom. 48, 3, 227-252.
14. MYERSON, R. 1981. Optimal auction design. Mathem. Operat. Resea. 6, 1, 58-73.
15. PRESS, W. H., FLANNERY, B. P., TEUKOLSKY, S. A., AND VETTERLING, W. T. 1992. Numerical Recipes: The Art of Scientific Computing. Cambridge University Press.
16. RILEY, J. G. AND SAMUELSON, W. F. 1981. Optimal auctions. Amer. Econom. Rev. 71, 381-392.
17. ROGERS, A., DAVID, E., SCHIFF, J., KRAUS, S., AND JENNINGS, N. R. 2005. Learning environmental parameters for the design of optimal English auctions with discrete bid levels. In Proceedings of 7th International Workshop on Agent-Mediated E-Commerce (AMEC-VII). 81-94.
18. ROGERS, A., DAVID, E., SCHIFF, J., KRAUS, S., AND JENNINGS, N. R. 2007. The effects of proxy bidding and minimum bid increments within eBay auctions. ACM Trans. Web. http://eprints.acs.soton.ac.uk/12716/
19. ROTHKOPF, M. H. AND HARSTAD, R. M. 1994. On the role of discrete bid levels in oral auctions. Europ. J. Operat. Resea. 74, 572-581.
20. YAMEY, B. S. 1972. Why 2,31,000 [pounds] for a Velazquez?: An auction bidding rule. J. Politic. Economy 80, 1323-1327.
21. YU, J. 1999. Discrete approximation of continous allocation machanisms. Ph.D. thesis, Division of Humanities and Social Science, California Institute of Technology.