An empirical model for multi-unit sequential dutch auctions: The dutch flower auctions case

Yixin Lu, Wolfgang Ketter, Jan Van Dalen, Alok Gupta, Eric Van Heck

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

We develop an empirical model for multi-unit sequential Dutch auctions where multiple units of identical products are auctioned in sequential rounds by means of a fast-paced downward ticking auction clock. While most research on sequential auctions restricts attention to the sale of a single indivisible unit per round, we consider a more general case where potential bidders can acquire multiple units in each round. Using a large dataset from a Business-to-Business (B2B) auction market, we identify the key factors that influence the price and quantity changes in the winning bids as the sequential auction proceeds. These findings provide useful implications for auctioneers to optimize the auction parameters (e.g., starting price) and to realize higher throughput and revenue.

Original languageEnglish (US)
Title of host publicationProceedings - 21st Workshop on Information Technologies and Systems, WITS 2011
PublisherJindal School of Management, JSOM
Pages73-78
Number of pages6
StatePublished - Jan 1 2011
Event21st Workshop on Information Technologies and Systems, WITS 2011 - Shanghai, China
Duration: Dec 3 2011Dec 4 2011

Other

Other21st Workshop on Information Technologies and Systems, WITS 2011
CountryChina
CityShanghai
Period12/3/1112/4/11

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