Abstract
By introducing the factors of online auction like the entry fee, the commission, the penalties and the stochastic arrival of bidders, the dissertation formulates online auctions' decision-make model of maximization of seller's expected revenue in open reserve price and private reserve price respectively, and studies the online auction's optimal open reserve price and optimal private reserve price, and gives the general form of optimal reserve price. On the base of all these above, the optimal reserve price is analyzed, showing that the sellers' optimal open reserve price is the same to the optimal private reserve price, and the maximum expected revenues are equal.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
