T paper analyzes sequential auctioning of single units of an indivisible good to a fluctuating population composed of overlapping generations of unit-demand bidders. Two phenomena emergent in such a market are investigated: forward-looking bidding strategies, and closed-loop selling strategies that involve learning from past prices. The buyers shade their bids down, i.e., bid less than they wou...

Online auction buyers often face the predicament of choosing between the buyout strategy and the bidding strategy to acquire an auctioned product. A buyer who chooses to buy out will obtain the item immediately at the posted price while the one who chooses to bid will have to monitor the bidding process in the hope of acquiring the product at a price lower than the posted one. Despite the wealt...

This article examines the influences of two forms of buyout options – permanent (i.e., a buyer could buy out the item at any point during the entire bidding process) and temporary (i.e., buyout option ceases to be present once the bidding price exceeds the reserve price) – under the presence of reserve price on a buyer’s decision in online auctions. We propose that the presence of permanent buy...

Paid placements on search engines reached sales of over $10 billion in the U.S. last year and represent the most rapidly growing form of online advertising today. In its classic form, a search engine sets up an auction for each search word in which competing web sites bid for their sponsored links to be displayed next to the search results. We model this advertising market focusing on two of it...

Online auctions, in the absence of spatial, temporal and geographic constraints, provide an alternative supply chain channel for the distribution of goods and services. This channel differs from the common posted-price mechanism that is typically used in the retail sector. In consumer-oriented markets, buyers can now experience the thrill of ‘winning’ a product, potentially at a bargain, as opp...

Recent spectrum auctions in the United Kingdom, and some proposals for future auctions of spectrum in the United States, are based on preliminary price discovery rounds, followed by calculation of final prices for the winning buyers. For example, the prices could be the projection of Vikrey prices onto the core of reported prices. The use of Vikrey prices should lead to more straightforward bid...

Federal, state, and local government agencies are often tasked with managing conflicting legislative, administrative, public demands. Without clear direction on how to manage these interests, a bureaucracy struggles determine an optimal outcome. The Elliott State Forest in southwestern Oregon exemplifies interests can become problematic. After endangered species concerns increased litigation re...

We consider a private value auction with one-sided incomplete information in which two objects are sold sequence of second-price auctions. Buyers have multi-unit demands and both asymmetrically informed at the ex-ante stage game. One buyer perfectly knows his type other is uninformed about own type. con-sider interim acquisition for derive an asymmetric equilibrium shown to produce declining pr...

Power systems are in the midst of radical changes as a result of steadily rising demand, advanced technology integration and increasing penetration levels of renewable energy sources. Such developments have brought about increasing recognition of consumer behavior and the provision of DR (demand response). The aggregation of small loads as a DR flexibility resource allows end-users to participa...

Cloud computing has been an emerging model which aims at allowing customers to utilize computing resources hosted by Cloud Service Providers (CSPs). More and more consumers rely on CSPs to supply computing and storage service on the one hand, and CSPs try to attract consumers on favorable terms on the other. In such competitive cloud computing markets, pricing policies are critical to market ef...