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Analysis of Automated Auctions

机译:自动拍卖分析

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摘要

Web based computerised auctions are increasingly present in the Internet, and we can imagine that in the future automated buyer and seller agents will conduct automated transactions in this manner. The purpose of this paper is to model automated bidders and sellers which interact through a computerised auction. We model bidding process using random processes with discrete state-space. We obtain analytical solutions for a variety of single auction models, including English and Vickrey auctions, and relate the income per unit time to the other parameters including the rate of arrival of bids, the seller's decision time, the value of the good, and the "rest time" of the seller between successive auctions. We examine how the seller's "decision time" impacts the expected income per unit time received by the seller, and illustrate its effect via numerical examples.
机译:基于Web的计算机拍卖会越来越多地出现在Internet上,我们可以想象,将来自动的买方和卖方代理将以这种方式进行自动交易。本文的目的是对通过计算机拍卖进行交互的自动投标人和卖方进行建模。我们使用具有离散状态空间的随机过程对投标过程进行建模。我们获得了包括英国和维克雷拍卖在内的各种单一拍卖模型的分析解决方案,并将每单位时间的收入与其他参数相关联,包括出价到达率,卖方的决定时间,商品价值以及两次拍卖之间卖方的“休息时间”。我们研究了卖方的“决定时间”如何影响卖方收到的每单位时间的预期收入,并通过数值示例说明了其影响。

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