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- W284298052 abstract "We study a special kind of online auction known as Lowest Unique Bid Auction (LUBA) which allocates a good to the agent who submits the lowest bid that is not matched by any other bid (i.e., the least and the unique bid). We exhaustively analyze this kind of auction mechanism by constructing various networks and studying their properties from the weblogs available as bid histories. We also study how the top winners differ from others in their bidding strategies by analyzing various parameters. Profit analysis of all bidders reveals that top winners need not be high profit bidders, and there might exist a few “crazy” bidders who frequently participate in various auctions irrespective of their profit or loss. Finally, we propose a memory-driven agent based dynamical model where both bidder participation and bidding choices are decided preferentially based on the previous participation and winning histories of the individual bidders. Remarkably, our model accurately predicts the participation and winning distribution of the bidders." @default.
- W284298052 created "2016-06-24" @default.
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- W284298052 date "2014-06-16" @default.
- W284298052 modified "2023-09-27" @default.
- W284298052 title "Analysis and Modeling of Lowest Unique Bid Auctions" @default.
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