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.

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Apr 11th, 9:00 AM

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.