On the evaluation of bidding strategies in sequential auctions

Research output: Contribution to journalArticlepeer-review

Abstract

This paper provides further insight into the structure of the procurement strategy for a firm that in order to fill the demand of its market builds inventory by participating in sequential auctions. The analysis herein extends previous work by endogenizing the probability of winning an auction using the rise function in order to obtain a concrete characterization of the optimal strategy. Further, an efficient computational algorithm is given and evaluated for specific valuation models for the market.

Original languageEnglish (US)
Pages (from-to)829-836
Number of pages8
JournalOperations Research Letters
Volume49
Issue number6
DOIs
StatePublished - Nov 2021

All Science Journal Classification (ASJC) codes

  • Software
  • Management Science and Operations Research
  • Industrial and Manufacturing Engineering
  • Applied Mathematics

Keywords

  • Auctions
  • Bidding strategies
  • Rise function

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