eBusiness Research Lunch Seminars
NE20-336 (3 Cambridge Center)
Wednesday, November 28, 12-1:30 pm
Lunch Provided
Professors Georgia Perakis and Dimitris Bertsimas
Optimal Bidding in On-Line Auctions

Abstract

In recent years online auctioning over the internet is established as a convenient, efficient, and effective method of doing business. In this research we study the design and control of auctions by designing bidding strategies from a B2C point of view. We start our investigation with users participating at a single auction and then extend our results to also consider the case of users participating simultaneously in a number of auctions, all of them not necessarily starting or ending at the same time. We use dynamic optimization and optimal control methods and propose algorithms for optimal bidding from the point of view of a buyer. Moreover, we test our results using real world data.

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Calendar for Fall Lunch seminars