scholarly journals Action in auctions: neural and computational mechanisms of bidding behaviour

2019 ◽  
Vol 50 (8) ◽  
pp. 3327-3348
Author(s):  
Mario Martinez-Saito ◽  
Rodion Konovalov ◽  
Michael A. Piradov ◽  
Anna Shestakova ◽  
Boris Gutkin ◽  
...  
Keyword(s):  
Bidding Behaviour

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

2020 ◽  
Vol 5 (1) ◽  
Author(s):  
Murray Bennett ◽  
Rachel Mullard ◽  
Marc T. P. Adam ◽  
Mark Steyvers ◽  
Scott Brown ◽  
...  
Keyword(s):  
Decision Making ◽  
Subjective Expected Utility ◽  
Group Setting ◽  
Step Rate ◽  
Dutch Auction ◽  
Maximum Price ◽  
Rate Step ◽  
Current Price ◽  
Starting Price ◽  
Bidding Behaviour

AbstractIn 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.

Bidding behaviour and electricity market simulation

2007 ◽  
Vol 17 (4) ◽  
pp. 333-346 ◽  
Author(s):  
T. Chandarasupsang ◽  
S. Galloway ◽  
G. Burt ◽  
J. McDonald ◽  
T. Siewierski
Keyword(s):  
Electricity Market ◽  
Market Simulation ◽  
Bidding Behaviour

Snipe bidding behaviour in eBay auctions

2011 ◽  
Vol 4 (1) ◽  
pp. 16 ◽  
Author(s):  
Fusun F. Gonul ◽  
Peter T.L. Popkowski Leszczyc
Keyword(s):  
Ebay Auctions ◽  
Bidding Behaviour

Bidding Behaviour in Second-Price and Random Nth-Price Auctions Given a Skewed Distribution of Interval Private Values

2021 ◽  
Author(s):  
Prasenjit Banerjee ◽  
Debkumar Chakrabarti ◽  
Souvik Datta ◽  
Rupayan Pal ◽  
Abul Maala Hussain
Keyword(s):  
Skewed Distribution ◽  
Private Values ◽  
Bidding Behaviour
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