Shill bidding in English auction is the deliberate placing bids on the seller’s behalf to artificially drive up the price of his auctioned item. Shill bidding has been known to occur in auctions of high-value items like art and antiques where bidders’ valuations differ and the seller’s payoff from fraud is high. We prove that privatevalue English auctions with shill bidding can result in a high...

The thesis is composed of three essays on auction theory. The focus is mainly on the English auction, which is probably the format most commonly used. In the English auction, a bidder can see his opponents’ activity as the price is gradually raised starting from a very low price. When only one bidder is left, such bidder is declared the winner and pays the price at which the last but one bidder...

P often observe others’ decisions before deciding themselves. Using eBay data for DVD auctions we explore the consequences of neglecting nonsalient information when making such inferences. We show that bidders herd into auctions with more existing bids, even if these are a signal of no-longer-available lower starting prices rather than of higher quality. Bidders bidding a given dollar amount ar...

Beijing attempted to host both the 2000 and 2008 Olympic Games, being unsuccessful in 2000 and successful in 2008. This paper analyzes the influences the Olympic host announcements on Chinese stock market indices. Olympic host announcements may impact the bidding countries’ investors’ sentiments (mood effect) and their rational economic expectations (economic effect); thus, the bidding countrie...

We analyze the competition between auction houses to organize an English auction in the independent private value model with participation costs when the seller is unable to commit not to participate in the same way as any potential buyer through a shill bidding activity. The seller may prefer to contract with auction houses with higher fees since they make the shill bidding activity more costl...

In an agent-based online auction system, a bidding agent can automatically place bids on behalf of a human user according to a user-specified bidding strategy. Current implementations of bidding agents only support a set of simple predefined bidding strategies. In this paper, we introduce a formal bidding strategy model that supports specification of complex bidding strategies for autonomous bi...

This study is aimed at describing the speech acts of request fish traders as buyers to fishermen sellers auctions (Tempat Pelelangan Ikan/TPI) Carocok Port, Koto XI Tarusan District, Pesisir Selatan Regency. The objectives are identify modes and types requests used by in auction Port. research qualitatively conducted. data were collected using observational method with note-taking, recording, i...

Business-to-business exchanges are expected to bring several advantages to the participants of the exchange. One of the principal advantages of such exchanges lies in their promise of lowering prices for buyers due to increased competition among the sellers for the buyers’ business. This paper models the competition between similar sellers vying for the same business by bidding on price. It cap...