Event Title
Analysis of QuiBids Penny Auctions
Presentation Type
Poster/Portfolio
Presenter Major(s)
Mathematics
Mentor Information
Jonathan Hodge
Department
Mathematics
Location
Henry Hall Atrium 27
Start Date
11-4-2012 9:00 AM
Keywords
Mathematical Science, Technology
Abstract
Successful companies such as eBay and Amazon have inspired a new generation of online auction websites. QuiBids is one of the leading pioneers in the online penny auction industry. A penny auction is a type of all-pay auction in which players pay a non-refundable fee to place a small incremental bid. This poster presents a mathematical model of QuiBids penny auctions and explores the effectiveness of various bidding strategies.
Analysis of QuiBids Penny Auctions
Henry Hall Atrium 27
Successful companies such as eBay and Amazon have inspired a new generation of online auction websites. QuiBids is one of the leading pioneers in the online penny auction industry. A penny auction is a type of all-pay auction in which players pay a non-refundable fee to place a small incremental bid. This poster presents a mathematical model of QuiBids penny auctions and explores the effectiveness of various bidding strategies.