Research On Bidding Strategies By Time Under The Circumstance Of Uncertain Reserve Price

As a kind of old auction of transactions has several hundred years of history, nowadays in price forming mechanism, with its rich form, wide to receive the world market welcome. With the accelerated development of auction theory and its application practice of deeply, auction has been for related economics brings new perspective in other fields.With auction field continues to expand and auction means auction of the increasingly rich by rare product to the subject matter have general commodities transformation, and therefore there are many highlights the retentive price in the auction market uncertainty phenomena, especially when the subject matter for the general merchandise. According to the commodity price volatility, using probability distribution is used to describe the retentive price uncertainty, considering the general commodities auction for participation in the use of bidder for goods of time requirements will affect its bid policy, and different risk preference bidder's offer strategy according to different chengdu to Shanghai, ticket price within one month of the sample data obtained by regression analysis of the ticket price and time, this function relationships for background conditions, re-established the retentive price mean changes with time regression model; Reservation price set of uncertain bidder bid monetary utility model and risk aversion cases utility model. Established the monetary utility model bidder, solving the optimal bidding, and using computer simulation technology explore time factors, market deviation, personal appraisal deviation and retentive price for optimal bidding maximum etc, and the different effects of the bidder risk conditions the optimal bidding comparison analysis, finally got a series of valuable results. The auction market for future bidder's offer strategy to provide the reference.This paper studies the bidder verified for tickets, use the same time, with the optimal bidding for ticket use time bidder negatively correlated to the relations;The optimal bidding positively correlated with rival estimates deviation; The optimal bidding positively correlated with market deviation; The optimal bidding positively correlated with maximum retentive price; When using time ticket, and near the same valuation, deviation with the optimal bidding after a short time to reduce use increases;Using time interval in ticket far the optimal bidding, and decreases with the use of time. With use time diminishing bidding price stability throughout with reserves the difference in value, time more far, difference value is bigger; Ticket, and use time bidder optimal bidding and increased with increasing market deviation such conclusion.