Modeling competitive bidding: a critical essay
Management Science
Bidders' strategy for multi-attribute sequential english auction with a deadline
AAMAS '03 Proceedings of the second international joint conference on Autonomous agents and multiagent systems
The effects of proxy bidding and minimum bid increments within eBay auctions
ACM Transactions on the Web (TWEB)
Analysis of single and networked auctions
ACM Transactions on Internet Technology (TOIT)
On the design and implementation of a shared memory dispatcher for partially clairvoyant schedulers
International Journal of Parallel Programming
An Approximate Model for Bidders in Sequential Automated Auctions
KES-AMSTA '09 Proceedings of the Third KES International Symposium on Agent and Multi-Agent Systems: Technologies and Applications
Performance of Auctions and Sealed Bids
EPEW '09 Proceedings of the 6th European Performance Engineering Workshop on Computer Performance Engineering
Analysis of an automated auction with concurrent multiple unit acceptance capacity
ASMTA'10 Proceedings of the 17th international conference on Analytical and stochastic modeling techniques and applications
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We consider an online auction setting where the seller attempts to sell an item. Bids arrive over time and the seller has to make an instant decision to either accept this bid and close the auction or reject it and move on to the next bid, with the hope of higher gains. What should be the seller's strategy to maximize gains? Using techniques from convex analysis, we provide an explicit closed-form optimal solution (and hence a simple optimum online algorithm) for the seller.Our methodology is attractive to online auction systems that have to make an instant decision, especially when it is not humanly possible to evaluate each bid individually, when the number of bids is large or unknown ahead of time, and when the bidders are unwilling to wait.