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Respond to the question: Kindly request direction on applying gam?

08/25/2012 08:37 AM by name withheld; Interesting
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10/12/2000 08:21 PM by Yue Zhang;
I think he's talking about the model of some online retailers, such as With more buyer participate, the price will drop according to some rule. So for a buyer, he has to determine when to come in and for a seller, he [View full text and thread]

05/23/2000 12:56 PM by Eric Chou;
Can you clearify some of the confusion in your description of the issue? I put my question in the <> in your original text. ============================================ The issue involves a series of transactions that are [View full text and thread]

05/11/2000 03:54 PM by name withheld; Kindly request direction on applying game theory to bidding/reverse auction model.
I was greatly impressed by your web page. I found it while trying to research an issue that I believe is applicable to game theory... I'm trying to find an applicable model that I can research further and would appreciate some direction.

The issue involves a series of transactions that are finite in duration and involve potentially dissimilar offerings between sessions. On one hand there are buyers who have current knowledge of price and demand. On the other hand, there are sellers, who can potentially change from session to session, who also have current knowledge of price and demand. However, neither party has knowledge of who is on the other side of the transaction. The transaction starts with an opening bid from a seller and progresses with Buyers entering the market at the current price with the motivation to bring other buyers in so that their collective actions may induce another seller participant to make a pricing move downward. The cycle continues with demand generation that is fueled by pricing decisions and ends because of either a time constraint or quantity limitation.

Do you have a suggested direction where I can find research on a game theory model that approximates this transaction? Do you have any resources that you would direct me towards that explain the motivations and dynamics at a more thorough level?

Thank you in advance!


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