On-Line Auctions: Theory and Practice
نویسندگان
چکیده
Thirty billion dollars of trade was carried out using on line auctions in 2001 alone. As suggested by the title, the aim of this track was to bring together leading theoreticians and practitioners in online marketplaces to discuss two complementary issues: the theory and practice of online auctions for the general problem of resource or task allocation in domains such as supply chains. In particular, the theory concentrated on the design of auction mechanisms and the analysis of the resulting stable bidding strategies. The practice, on the other hand, concentrated on how agent technologies can be used to implement marketplaces.
منابع مشابه
A Comparative Study of Multi-Attribute Continuous Double Auction Mechanisms
Auctions have been as a competitive method of buying and selling valuable or rare items for a long time. Single-sided auctions in which participants negotiate on a single attribute (e.g. price) are very popular. Double auctions and negotiation on multiple attributes create more advantages compared to single-sided and single-attribute auctions. Nonetheless, this adds the complexity of the auctio...
متن کاملHow to Eliminate Collusion in Tenders and Auctions, using Game Theory (Determination of Ceiling and Floor Prices)
Governments and firms in accordance to their duties, obliged to inevitably contracts with Individuals and legal entities, especially in auction and tender process. Since, the law of conducting tenders and auctions is lacking efficiency and has major objection, therefore, this has led to the dissemination and development of areas of corruption in these contracts (through collusion). In this pape...
متن کاملWinner Determination in Combinatorial Auctions using Hybrid Ant Colony Optimization and Multi-Neighborhood Local Search
A combinatorial auction is an auction where the bidders have the choice to bid on bundles of items. The WDP in combinatorial auctions is the problem of finding winning bids that maximize the auctioneer’s revenue under the constraint that each item can be allocated to at most one bidder. The WDP is known as an NP-hard problem with practical applications like electronic commerce, production manag...
متن کاملA theoretical and empirical investigation of multi-item on-line auctions
In this paper we explore and analyze the structure of Internet auctions from an analytical and an empirical perspective. Such web-based auctions are rapidly emerging as a mercantile process of choice in the electronic marketplace. We observe current Internet auctions for one-time products, such as rapidly aging hardware, and analyze them within the framework of the existing auction theory. Whil...
متن کاملEfficiency in Auctions: Theory and Practice∗
In many policy contexts, efficiency is the primary consideration in structuring auctions. In this paper, we survey several sources of inefÞciency arising in auctions. We Þrst highlight the effects of demand reducing incentives, both in theory and in practice, in multi-unit auctions. Next, we study inefficiencies arising from interdependence in bidder valuations. Again, we highlight both theoret...
متن کامل