ON JOINT DISTRIBUTION OF BIDS IN SOME 𝒌-TH PRICE AUCTION MODEL
ON JOINT DISTRIBUTION OF BIDS IN SOME 𝒌-TH PRICE AUCTION MODEL
Author(s): Michał Stachura, Barbara WodeckaSubject(s): Business Economy / Management, ICT Information and Communications Technologies
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: auction bids; 𝑘-th records; exceedance distribution;
Summary/Abstract: In the era of increasingly widespread use of electronic communication tools, constant growth of e-commerce turnover is hardly surprising. One of its mechanisms are online auctions whose turnover, on a global scale, is enormous. This paper proposes a stochastic model of the value of subsequent actual bids appearing in the course of a dynamic internet 𝑘-th price auction. On this basis, it was possible to determine unconditional joint probability distributions, as well as univariate marginal distributions of successive bids appearing in the course of the auction type under consideration.
Journal: Metody Ilościowe w Badaniach Ekonomicznych
- Issue Year: XXV/2024
- Issue No: 1
- Page Range: 10-18
- Page Count: 9
- Language: English