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Optimal design of online multiunit dynamic auctions

CHEN Sheng-li, WU Hui-qiu, LUO Yun-feng   

  1. Institute of Systems Engineering, Huazhong University of Science and Technology, Wuhan 430074, China
  • Received:2007-01-23 Revised:1900-01-01 Online:2008-04-16 Published:2008-04-16
  • Contact: CHEN Sheng-li

Abstract: Aiming to overcome the disadvantage of current online auction mechanisms design, the variable characteristic of online auctions was given, the dynamic program theory was introduced and the method of marginal revenue and marginal cost were analyzed.  In addition, the optimal number of online multi-unit dynamic auctions,  the online multi-unit optimal dynamic uniformprice auctions and the online multiunit optimal dynamic discriminatory auctions were studied. Finally, a  comparative analysis of these two auction mechanisms was given.

Key words: multi-unit, online, optimal dynamic auctions, design

CLC Number: 

  • F716
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