| As the product in the development of economic, the auction is popular in modern society. Online auction is on the rise gradually because of its merit. Online auction has a lot of problems in developing, such as struggling for benefit and how to choose the best strategy in all the parties concerned. Firstly, the development status and features of the online auction and the present situation of research are presented, Then the sense and purpose of the research is put forward. Secondly, the research expatiates the basic types and several kinds of familiar models of online auction. Then it concluded that what is the best quoted price of bidders by using the incomplete information static game theory. Thirdly, this study analyses the optimal strategies under the independent private value model and the correlation value model. As we all known, the buyout price in the online English auction is applied widely. This paper focuses on three different buyout price rules on different auction sites:the fixed buyout price, the temporary buyout price and the permanent buyout price. The study concludes the best bidding strategies about the three different ways of auction. In addition, the limitations of current research and future research orientation are also addressed. |
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