Abstract
We develop an empirical model for multi-unit sequential Dutch auctions where multiple units of identical products are auctioned in sequential rounds by means of a fast-paced downward ticking auction clock. While most research on sequential auctions restricts attention to the sale of a single indivisible unit per round, we consider a more general case where potential bidders can acquire multiple units in each round. Using a large dataset from a Business-to-Business (B2B) auction market, we identify the key factors that influence the price and quantity changes in the winning bids as the sequential auction proceeds. These findings provide useful implications for auctioneers to optimize the auction parameters (e.g., starting price) and to realize higher throughput and revenue.
Original language | English |
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Pages | 73-78 |
Number of pages | 6 |
Publication status | Published - 2011 |
Event | 21st Workshop on Information Technologies and Systems, WITS 2011 - Shanghai, China Duration: 3 Dec 2011 → 4 Dec 2011 |
Conference
Conference | 21st Workshop on Information Technologies and Systems, WITS 2011 |
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Country/Territory | China |
City | Shanghai |
Period | 3/12/11 → 4/12/11 |