On the evaluation of bidding strategies in sequential auctions

被引：1
|
作者：
Katehakis, Michael N. [1 ]
Puranam, Kartikeya S. [2 ]
机构：
[1] Rutgers Business Sch, 100 Rockafeller Rd, Piscataway, NJ 08854 USA
[2] Rutgers Sch Business Camden, 227 Penn St, Camden, NJ 08102 USA
来源：
OPERATIONS RESEARCH LETTERS | 2021年 / 49卷 / 06期
基金：
美国国家科学基金会;
关键词：
Auctions; Bidding strategies; Rise function;
D O I：
10.1016/j.orl.2021.09.003
中图分类号：
C93 [管理学]; O22 [运筹学];
学科分类号：
070105 ; 12 ; 1201 ; 1202 ; 120202 ;
摘要：
This paper provides further insight into the structure of the procurement strategy for a firm that in order to fill the demand of its market builds inventory by participating in sequential auctions. The analysis herein extends previous work by endogenizing the probability of winning an auction using the rise function in order to obtain a concrete characterization of the optimal strategy. Further, an efficient computational algorithm is given and evaluated for specific valuation models for the market. (C) 2021 Elsevier B.V. All rights reserved.
引用
收藏
页码：829 / 836
页数：8
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