On bidding for a fixed number of items in a sequence of auctions

European Journal of Operational Research

Volumn 222, Issue 1, 2012, Pages 76-84

  Katehakis, Michael N ^a   Puranam, Kartikeya S ^a,b  

^a RUTGERS BUSINESS SCHOOL   (United States)

^b ITHACA COLLEGE   (United States)

Author keywords

Auctions bidding; Dynamic programming; Markov Decision Processes; Stochastic processes

Indexed keywords

AUCTIONS/BIDDING; FIXED NUMBERS; MARKOV DECISION PROCESSES; MONOTONICITY PROPERTY; OPEN MARKET; OPTIMAL BIDDING STRATEGY; OPTIMAL VALUE FUNCTIONS; TOTAL COSTS;

DYNAMIC PROGRAMMING; LEARNING ALGORITHMS; MARKOV PROCESSES; RANDOM PROCESSES; SALES;

COMMERCE;

EID: 84861798059     PISSN: 03772217     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ejor.2012.03.050     Document Type: Article

References (22)

1. Bergemann, D., Said, M., 2010. Dynamic Auctions: A Survey, Cowles Foundation Discussion, Paper No. 1757R.
2. A. Burnetas, and M. Katehakis Optimal adaptive policies for sequential allocation problems Advances in Applied Mathematics 17 2 1996 122 142 (Pubitemid 126160351)
3. A. Burnetas, and M. Katehakis Optimal adaptive policies for Markov decision processes Mathematics of Operations Research 22 1 1997 222 255 ISSN:0364-765 (Pubitemid 127621321)
4. X. Chen, A. Ghate, and A. Tripathi Dynamic lot-sizing in sequential online retail auctions European Journal of Operational Research 215 1 2011 257 267
5. J. Crespi, and R. Sexton Bidding for cattle in the Texas Panhandle American Journal of Agricultural Economics 2004 660 674 (Pubitemid 38958082)
6. R. Engelbrecht-Wiggans Auctions and bidding models: a survey Management Science 1980 119 142
7. R. Engelbrecht-Wiggans Sequential auctions of stochastically equivalent objects Economics Letters 44 1-2 1994 87 90
8. J. Heezen, and W. Baets The impact of electronic markets: the case of the Dutch Flower Auctions Journal of Strategic Information Systems 5 4 1996 317 333
9. K. Kannan Declining prices in sequential auctions with complete revelation of bids Economics Letters 108 1 2010 49 51
10. M. Katehakis, and H. Robbins Sequential choice from several populations Proceedings of the National Academy of Sciences of the United States of America 92 19 1995 8584
11. J. Kleijnen, and F. van Schaik Sealed-bid auction of dutch mussels: statistical analysis International Journal of Production Economics 132 1 2011 154 161
12. P. Klemperer Auction theory: a guide to the literature Journal of Economic Surveys 13 3 1999 227 286 (Pubitemid 29392123)
13. P. Milgrom Auctions and bidding: a primer Journal of Economic Perspectives 3 3 1989 3 22
14. P. Milgrom Putting auction theory to work 2004 Cambridge Univ Pr
15. Oren, S., Rothkopf, M., 1974. Optimal bidding in sequential auctions. In: 1974 IEEE Conference on Decision and Control Including the 13th Symposium on Adaptive Processes, vol. 13.
16. E. Pinker, A. Seidmann, and Y. Vakrat Managing online auctions: current business and research issues Management Science 2003 1457 1484
17. E. Pinker, A. Seidmann, and Y. Vakrat Using bid data for the management of sequential, multi-unit, online auctions with uniformly distributed bidder valuations European Journal of Operational Research 202 2 2010 574 583
18. Qin, K., Yang, B., 2008. Implementation of information platform for fresh flower supply chain-survey from kunming international flower auction market. In: Proceedings of International Conference on Industry Cluster Development and Management, pp. 595-599.
19. N. Von Der Fehr Predatory bidding in sequential auctions Oxford Economic Papers 1994 345 356
20. G. Vulcano, G. Van Ryzin, and C. Maglaras Optimal dynamic auctions for revenue management Management Science 48 11 2002 1388 1407 ISSN:0025-190
21. R.J. Weber Multiple-object auctions R. Engelbrecht-Wiggans, M. Shubik, R. Stark, Auctions, Bidding, and Contracting: Uses and Theory 1983 University press New York
22. R. Weber Multiple-object auctions' International Library of Critical Writings in Economics 113 2000 240 268