Encouraging information sharing to boost the name-your-own-price auction

文献类型： 外文期刊

第一作者： Chen, Yahong

作者： Chen, Yahong;Li, Jinlin;Huang, He;Ran, Lun;Hu, Yusheng;Chen, Yahong;Huang, He

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关键词： Information sharing;Social learning;Belief-decision model;Name-your-own-price

期刊名称：PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS （ 影响因子：3.263； 五年影响因子：2.866 ）

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收录情况： SCI

摘要： During a name-your-own-price (NYOP) auction, buyers can learn a lot of knowledge from their socially connected peers. Such social learning process makes them become more active to attend the auction and also helps them make decisions on what price to submit. Combining an information diffusion model and a belief decision model, we explore three effects of bidders' information sharing on the buyers' behaviors and the seller profit. The results indicate that information sharing significantly increases the NYOP popularity and the seller profit. When enlarging the quality or quantity of information sharing, or increasing the spreading efficiency of the network topology, the number of attenders and the seller profit are increased significantly. However, the spread of information may make bidders be more likely to bid higher and consequently lose surplus. In addition, the different but interdependent influence of the successful information and failure information are discussed in this work. (C) 2017 Elsevier B.V. All rights reserved.

分类号： O4

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