| Auction is an old way of market transactions, resources can be configured through auction, buyers and sellers determine the prices of the goods jointly through communication and interaction mechanism, so as to maximize the revenue of participants. With the rapid development of information technology, online auction has broken the time and space limitations of traditional auction, greatly expand the time and space of auction. With the improvement of online auction mechanisms, more and more consumers hope to sell their second-hand goods on Internet to obtain revenue. Therefore, the second-hand goods auction sites emerged in recent years, such as "taobao.com", "eBay.com" and "Amazon.com" had designed professional trading platform for second-hand goods online auction business. With the innovation of online auction format, buyout price online auction has been applied widely including fixed buyout price, temporary and permanent buyout price these three kinds. From the view of seller, it is important to choose the right buyout price auction format selling their second-hand goods. At present, in most research of online auction, customers are assumed fully rational, but previous research has shown that, in a complex and uncertain environment, their decisions are usually bounded rational. Therefore, the second-hand goods online auction revenue models constructed in this essay and the study of chosen online auction format are based on assuming customers to be bounded rational. Now illustrate this essay from following three aspects.(1) Constructed seller’s expected revenue model of three buyout price auction considering bounded rational customers. Firstly, analysis the response strategy of customer for three buyout price auction, and derived the optimal response strategy of customer. Then, on the basis of the relevant literature, propose the behavior model describing bounded rationality of customer. Finally, according to the optimal response strategy of customer, combining the behavior model, constructed seller’s expected revenue model of three buyout price auction considering bounded rational customers respectively.(2) Based on the seller’s expected revenue models of three buyout price online auction considering bounded rational customers, aim at three factors which may influence the seller’s revenue during actual auction process of second-hand goods: number of potential customers, value of second-hand goods and bounded rational degree of customers, carry on numerical experiment. Under different situations, compare and analysis which kind of auction is more dominant. Get the general conclusions of the choice for three buyout price online auction format.(3) Study of the potential application. Use the three seller’s expected revenue models constructed in this paper, aim at the real auction problems of selling second-hand goods online, using a second-hand piano as an example, select the optimal one in three auction formats, to maximize the seller’s expected revenue, get the practical significance of this essay.This essay lays the foundation for selecting format of online auction selling second-hand goods with considering bounded rational customers. Specific application embodies the guide for practice; to provide ideas and methods for the future expansion of other formats of auction. |
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