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Game Modeling of the Auctions in Internet

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  • Maria Garvalova

Abstract

Presented are the results of the analyses of one of the most successful forms of the e-trade gaining more and more popularity – trade in internet, as well as of a formalized description of the most distributed and most often used for empirical studies models. The gained research experience shows that the methods, based on game approaches, are effective for a forming of the strategy when participating in internet auctions, but the researchers face the lack of clear methodical rules, forming the criterion of effectiveness of the participants.

Suggested Citation

  • Maria Garvalova, 2001. "Game Modeling of the Auctions in Internet," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 119-125.
    • Handle: RePEc:bas:econth:y:2001:i:5:p:119-125
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    References listed on IDEAS

    as
    1. Roger B. Myerson, 1981. "Optimal Auction Design," Mathematics of Operations Research, INFORMS, vol. 6(1), pages 58-73, February.
    2. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, December.
    3. Alvin E. Roth & Axel Ockenfels, 2000. "Last Minute Bidding and the Rules for Ending Second-Price Auctions: Theory and Evidence from a Natural Experiment on the Internet," NBER Working Papers 7729, National Bureau of Economic Research, Inc.
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    6. Bajari, Patrick & Hortacsu, Ali, 2003. "The Winner's Curse, Reserve Prices, and Endogenous Entry: Empirical Insights from eBay Auctions," RAND Journal of Economics, The RAND Corporation, vol. 34(2), pages 329-355, Summer.
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    JEL classification:

    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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