On joint distribution of bids in some k-th price auction model
Michał Stachura,
Barbara Wodecka
Abstract:In the era of increasingly widespread use of electronic communication tools, constant growth of e-commerce turnover is hardly surprising. One of its mechanisms are online auctions whose turnover, on a global scale, is enormous. This paper proposes a stochastic model of the value of subsequent actual bids appearing in the course of a dynamic internet k-th price auction. On this basis, it was possible to determine unconditional joint probability distributions, as well as univariate marginal distributions of succ… Show more
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