On managerial decision problem of the auction sites

Kin Keung Lai; Jun Ma; Shouyang Wang

doi:10.1007/s11424-006-0340-9

On managerial decision problem of the auction sites

Kin Keung Lai, Jun Ma, Shouyang Wang

Research output: Journal Publications and Reviews › RGC 21 - Publication in refereed journal › peer-review

1 Citation (Scopus)

Abstract

This paper studies one managerial decision problem of the auction sites: how to combine penalties with commissions? It is shown that when there exists secondary auction market, the auction whose penalty is a linear function of the seller's commission will be more efficient than the auction with only commissions but no penalties. It has also been proven that using this strategy can maximize the expected revenue for the seller, the auction site and their total expected revenues. © Springer Science + Business Media, Inc. 2006.

Original language	English
Pages (from-to)	340-351
Journal	Journal of Systems Science and Complexity
Volume	19
Issue number	3
DOIs	https://doi.org/10.1007/s11424-006-0340-9
Publication status	Published - Sept 2006

Research Keywords

Auction sites
Auction with commissions and penalties
Optimal reserve
Secondary market

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title = "On managerial decision problem of the auction sites",

abstract = "This paper studies one managerial decision problem of the auction sites: how to combine penalties with commissions? It is shown that when there exists secondary auction market, the auction whose penalty is a linear function of the seller's commission will be more efficient than the auction with only commissions but no penalties. It has also been proven that using this strategy can maximize the expected revenue for the seller, the auction site and their total expected revenues. {\textcopyright} Springer Science + Business Media, Inc. 2006.",

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author = "Lai, {Kin Keung} and Jun Ma and Shouyang Wang",

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AU - Ma, Jun

AU - Wang, Shouyang

PY - 2006/9

Y1 - 2006/9

N2 - This paper studies one managerial decision problem of the auction sites: how to combine penalties with commissions? It is shown that when there exists secondary auction market, the auction whose penalty is a linear function of the seller's commission will be more efficient than the auction with only commissions but no penalties. It has also been proven that using this strategy can maximize the expected revenue for the seller, the auction site and their total expected revenues. © Springer Science + Business Media, Inc. 2006.

AB - This paper studies one managerial decision problem of the auction sites: how to combine penalties with commissions? It is shown that when there exists secondary auction market, the auction whose penalty is a linear function of the seller's commission will be more efficient than the auction with only commissions but no penalties. It has also been proven that using this strategy can maximize the expected revenue for the seller, the auction site and their total expected revenues. © Springer Science + Business Media, Inc. 2006.

KW - Auction sites

KW - Auction with commissions and penalties

KW - Optimal reserve

KW - Secondary market

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U2 - 10.1007/s11424-006-0340-9

DO - 10.1007/s11424-006-0340-9

M3 - RGC 21 - Publication in refereed journal

SN - 1009-6124

VL - 19

SP - 340

EP - 351

JO - Journal of Systems Science and Complexity

JF - Journal of Systems Science and Complexity

IS - 3

ER -

On managerial decision problem of the auction sites

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Research Keywords

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