doi: 10.4304/jsw.6.10.2009-2015
Competitive Multi-attribute On-line Auction
- 1 School of Economics and Management, Shandong University of Science and Technology, Qingdao, China
- 2 Shandong University of Science and Technology, Qingdao, China
Abstract
The emergence of auction that supports bids characterized by several attributes is one of the most recent evolutions within auction theory. This paper introduces the multi-attribute and transaction cost into the on-line auction, proposed by Lavi and Nisan. Different from the traditional on-line auction, the buyer makes decision only based on the bids, when each bidder comes one by one. We propose a novel multi-attribute on-line auction mechanism for a limited bidder base. The mechanism consists of two parts: first, evaluation of bidders’ utility with an idea of a scoring rule designed by a buyer and second, the winner determination model. Furthermore, we present the price and utility algorithm, together with its competitive analysis, which is designed for the buyer to decide the trading price and quantities. Finally, we also perform numerical examples showing our results.
Keywords
- multi-attribute
- on-line auction
- transa
How to Cite
Lili Ding, Xinmin Liu, and Wanglin Kang, "Competitive Multi-attribute On-line Auction," Journal of Software, vol. 6, no. 10, pp. 2009-2015, 2011. https://doi.org/ 10.4304/jsw.6.10.2009-2015
Copyright & License
Copyright © 2011 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).