Bidding Strategies In Two Types Of Online Multi-unit Auctions

With the rapid development of e-commerce, online auctions have become a compelling trading mechanism, which has brought many consumers' concerns. Most previous studies focused on the single-item auctions, in order to adapt to the rapid changing competitive environment, more and more enterprises consider the multi-item online auctions as an important way of actual operations. This dissertation studies the bidders'bidding strategy of two different types of multi-item online auctions and gets some practical significance conclusions.Firstly, this dissertation studies the bidding behavior in simultaneous ascending-bid auctions. Collecting auction data on jinmajia.com, we divide the bidders into three categories and obtain the conclusion that the cross-bidding strategy is the optimal bidding strategy. By constructing multiple linear regression equations, we analyze the effect of bidding behaviors on the auction prices. It suggests that the number of cross-bidding bidders have not a significant positive impact on the trade price in simultaneous ascending-bid auctions.Secondly, this dissertation studies the bidding behavior in pay-per-bid auctions. Collecting auction data on bidxi.com, we use cluster analysis to divide bidders into two categories: irrational bidders and rational bidders. It shows that no matter what strategies bidders are used, their expected profits are negative. The rational bidding strategy gets higher expected revenue than the irrational bidding strategy. Then, we analyze the effect of bidding behaviors on the auction prices. We find that the two types of bidders have a significant positive impact on the trade price, while the irrational bidders have greater impact on the trade price.