Understanding Auctions

Mochón, Asunción; Sáez, Yago

doi:10.1007/978-3-319-08813-6

Cited by 27 publications

(18 citation statements)

References 53 publications

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“…An auction is a market institution with well-defined rules that determine the winner and prices of items based on received bids from market participants (Milgrom et al, 1982;McAfee et al, 1987;Mochón et al, 2015). The items sold at auctions include goods, such as artwork and books, and services such as the provision of subsidised air services.…”

Section: Designing An Auction For Subsidised Routesmentioning

confidence: 99%

“…First, as the word auction can be used to describe both offerings to sell and bids to buy, an auction can either be forward or reverse (McAfee et al, 1987). A forward auction is used to get the highest price (i.e., when offering to sell) while its converse, a reverse auction, is used to get the lowest price (i.e., when bidding to buy) as in government procurements (Mochón et al, 2015). Secondly, based on the number of items, the simplest auction form has a single unique indivisible item to be sold to one-out-of-many potential buyers (Vickrey, 1961).…”

Section: Designing An Auction For Subsidised Routesmentioning

confidence: 99%

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Decision Models for the Procurement of Subsidised Air Services

Kinene

2021

Linköping Studies in Science and Technology. Licentiate Thesis

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Section: Designing An Auction For Subsidised Routesmentioning

confidence: 99%

Section: Designing An Auction For Subsidised Routesmentioning

confidence: 99%

Decision Models for the Procurement of Subsidised Air Services

Kinene

2021

Linköping Studies in Science and Technology. Licentiate Thesis

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“…In multi-unit Dutch auction experiments, many homogeneous items are offered for sale within the same auction. The first to bid identifies the number of items they wish to purchase at that price, and the auction continues with the remaining items till all are sold (Mochón et al 2015 ). Buchanan et al.…”

Section: Effect Of Competitors On Bidding Behaviourmentioning

confidence: 99%

Going, going, gone: competitive decision-making in Dutch auctions

et al. 2020

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In a Dutch auction, an item is offered for sale at a set maximum price. The price is then gradually lowered over a fixed interval of time until a bid is made, securing the item for the bidder at the current price. Bidders must trade-off between certainty and price: bid early to secure the item and you pay a premium; bid later at a lower price but risk losing to another bidder. These properties of Dutch auctions provide new opportunities to study competitive decision-making in a group setting. We developed a novel computerised Dutch auction platform and conducted a set of experiments manipulating volatility (fixed vs varied number of items for sale) and price reduction interval rate (step-rate). Triplets of participants ($$N=66$$ N = 66 ) competed with hypothetical funds against each other. We report null effects of step-rate and volatility on bidding behaviour. We developed a novel adaptation of prospect theory to account for group bidding behaviour by balancing certainty and subjective expected utility. We show the model is sensitive to variation in auction starting price and can predict the associated changes in group bid prices that were observed in our data.

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“…Pelelangan merupakan sebuah proses cara menjual barang yang sudah dikenal sejak sebelum masehi lahir [Tista, 2013]. Proses pelelangan mempunyai mekanisme yang beroperasi dibawah aturan yang spesifik, dengan menentukan kepada siapa produk akan dimenangkan dan berapa harganya [Mochón, A. & Sáez, 2015].…”

Section: Pendahuluanunclassified

Web Progresif Sistem Informasi Pelelangan Produk Online pada PT Nusantara Sarana Outlet Jakart

Basri

Nurmalasari

Jaelani

2018

PIKSEL

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Abstract The development of the technology world provides convenience to the user, so that all the elements of information may be combined with the development of technology. A progressive web-based Online Product Auction System aimed at simplifying the company in marketing the limited edition product, especially nowadays it is desperately needed a fast and effective service to satisfy customer needs. So from the side of the company, it can manage a system that is structured and systematic, and reduces errors in the assessment of the winner in an auction. With Progressive Web concept is the latest concept of website creation that can be opened even offline mode. Keywords: Web, Information System, Progressive, Auction Abstrak Perkembangan dunia teknologi memberikan kemudahan kepada para pengguna, sehingga semua elemen informasi dapat dikombinasikan dengan perkembangan teknologi. Sistem Pelelangan Produk Online berbasis web progresif ditujukan untuk mempermudah perusahaan dalam memasarkan produk edisi terbatas, terlebih lagi diera sekarang ini yang membutuhkan servis yang serba cepat dan efektif untuk memuaskan kebutuhan pelanggan. Sehingga dari sisi perusahaan dapat mengelola sebuah sistem yang terstruktur dan sistematis, serta untuk mengurangi kesalahan dalam penilaian pemenang dalam sebuah pelelangan. Dengan konsep Web Progresif yaitu konsep terbaru pembuatan website yang bisa dibuka saat offline. Kata kunci: Web, Sistem Informasi, Progresif, Pelelangan

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Understanding Auctions

Cited by 27 publications

References 53 publications

Decision Models for the Procurement of Subsidised Air Services

Decision Models for the Procurement of Subsidised Air Services

Going, going, gone: competitive decision-making in Dutch auctions

Web Progresif Sistem Informasi Pelelangan Produk Online pada PT Nusantara Sarana Outlet Jakart

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