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...

To support a freight carrier in a combinatorial transport auction, we proposes an exact and two heuristic strategies for bidding on subsets of requests. The exact bidding strategy is based on the concept of elementary request combinations. We show that it is sufficient and necessary for a carrier to bid on each elementary request combination in order to guarantee the same result as bidding on e...

eBay is the largest and most widely known of many internet auction sites designed to connect buyers and sellers around the world. An eBay auction consists of a set bidding period during which individuals submit “maximum bids” for an item. The winner the auction is the individual with the highest bid, and the price is equal to the second highest bid, plus a small bidding increment. This system i...

Player i has valuation vi and vi > vi+1 > 0. The set of actions for each player is a bid bi ∈ [0,∞]. The price paid for the item is p = maxi{bi} and the player of minimum index bidding this price wins. The payoff for player i is vi − p if i wins, 0 else. A Nash equilibrium is denoted b∗ = {bi }. If b∗ is a Nash equilibrium, then player 1 wins. Suppose I have a strategy, that is, a vector of bid...

Based on the Chinese IPO book building mechanism as the background, the paper chooses the market-oriented period (from November,2010 to April,2012) of the IPOs as the samples, and studies the relationship between the collusive behavior, institutional investors’ bidding behavior and underwriters’ pricing strategy(as well as the post-IPO performance). The results show that: Firstly, in the case o...

A bidding strategy commonly observed in Internet auctions, though not frequently in live auctions, is that of “jump-bidding,” or entering a bid larger than necessary to be a current high bidder. In this paper, we argue that the cost associated with entering on-line bids and the uncertainty concerning bidding competition -both of which distinguish Internet from live auctions -can explain this ph...

The competition for resources among cells, individuals or species is a fundamental characteristic of evolution. Biological all-pay auctions have been used to model situations where multiple individuals compete for a single resource. However, in many situations multiple resources with various values exist and single reward auctions are not applicable. We generalize the model to multiple rewards ...