On Optimal Bidding in Concurrent Auctions
نویسندگان
چکیده
Online auctions have become a popular and effective tool for Internet-based E-markets. We investigate problems and models of optimal adaptive automated bidding in an environment of concurrent online auctions, where multiple auctions for identical items are running simultaneously. We develop new models for a firm where its item valuation derives from the sale of the acquired items via their demand distribution, sale price, acquisition cost, salvage value and lost sales. We discuss possible monotonicity properties for the value function and the optimal dynamic bid strategies that can be employed in developing efficient computations. Key–Words: Auctions, Dynamic Bidding, Simultaneous, Multi-period
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