Abstract
This is an empirical study of the effects of learning and experience on bidding behaviour in repeated simulated internet English and Dutch auctions. First, we introduce a simulation framework for the learning and research of behaviour in internet auctions. In this online simulation framework, human participants play against simulated bidders. Later we describe the characteristics, abilities and limitations of this framework. In the second part of the article we report on a study, conducted using the same environment, of the effects of learning and experience on bidding behaviour in repeated English and Dutch auctions. We found evidence for a strategy change over time and compared the difference in learning between the two auction models.
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 callMore From: International Journal of Simulation and Process Modelling
Disclaimer: 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.
