{"id":"https://openalex.org/W3004319542","doi":"https://doi.org/10.1142/s0217595920500128","title":"Optimal Design of Online Sequential Buy-Price Auctions with Consumer Valuation Learning","display_name":"Optimal Design of Online Sequential Buy-Price Auctions with Consumer Valuation Learning","publication_year":2020,"publication_date":"2020-01-28","ids":{"openalex":"https://openalex.org/W3004319542","doi":"https://doi.org/10.1142/s0217595920500128","mag":"3004319542"},"language":"en","primary_location":{"id":"doi:10.1142/s0217595920500128","is_oa":false,"landing_page_url":"https://doi.org/10.1142/s0217595920500128","pdf_url":null,"source":{"id":"https://openalex.org/S1254427","display_name":"Asia Pacific Journal of Operational Research","issn_l":"0217-5959","issn":["0217-5959","1793-7019"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319815","host_organization_name":"World Scientific","host_organization_lineage":["https://openalex.org/P4310319815"],"host_organization_lineage_names":["World Scientific"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Asia-Pacific Journal of Operational Research","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5100359738","display_name":"Ao Li","orcid":"https://orcid.org/0000-0002-6364-1898"},"institutions":[{"id":"https://openalex.org/I4391012565","display_name":"University of Chinese Academy of Social Sciences","ror":"https://ror.org/03va9g668","country_code":null,"type":"education","lineage":["https://openalex.org/I4391012565"]},{"id":"https://openalex.org/I4210129476","display_name":"Institute of Quantitative and Technical Economics","ror":"https://ror.org/02nf1ky18","country_code":"CN","type":"facility","lineage":["https://openalex.org/I114218197","https://openalex.org/I4210129476"]},{"id":"https://openalex.org/I139660479","display_name":"Central South University","ror":"https://ror.org/00f1zfq44","country_code":"CN","type":"education","lineage":["https://openalex.org/I139660479"]},{"id":"https://openalex.org/I114218197","display_name":"Chinese Academy of Social Sciences","ror":"https://ror.org/05bxbmy32","country_code":"CN","type":"facility","lineage":["https://openalex.org/I114218197"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Ao Li","raw_affiliation_strings":["Department of Quantitative & Technical Economics, University of Chinese Academy of Social Sciences, Beijing, P. R. China","School of Mathematics and Statistics, Central South University, Changsha, P. R. China"],"affiliations":[{"raw_affiliation_string":"Department of Quantitative & Technical Economics, University of Chinese Academy of Social Sciences, Beijing, P. R. China","institution_ids":["https://openalex.org/I4210129476","https://openalex.org/I114218197","https://openalex.org/I4391012565"]},{"raw_affiliation_string":"School of Mathematics and Statistics, Central South University, Changsha, P. R. China","institution_ids":["https://openalex.org/I139660479"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5107984929","display_name":"Zhaoman Wan","orcid":"https://orcid.org/0000-0003-1720-4512"},"institutions":[{"id":"https://openalex.org/I139660479","display_name":"Central South University","ror":"https://ror.org/00f1zfq44","country_code":"CN","type":"education","lineage":["https://openalex.org/I139660479"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Zhaoman Wan","raw_affiliation_strings":["School of Mathematics and Statistics, Central South University, Changsha, P. R. China","School of Mathematics and Statistics, Central South University, Hunan Changsha, P. R. China"],"affiliations":[{"raw_affiliation_string":"School of Mathematics and Statistics, Central South University, Changsha, P. R. China","institution_ids":["https://openalex.org/I139660479"]},{"raw_affiliation_string":"School of Mathematics and Statistics, Central South University, Hunan Changsha, P. R. China","institution_ids":["https://openalex.org/I139660479"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5027095108","display_name":"Zhong Wan","orcid":"https://orcid.org/0000-0003-3652-2460"},"institutions":[{"id":"https://openalex.org/I139660479","display_name":"Central South University","ror":"https://ror.org/00f1zfq44","country_code":"CN","type":"education","lineage":["https://openalex.org/I139660479"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Zhong Wan","raw_affiliation_strings":["School of Mathematics and Statistics, Central South University, Changsha, P. R. China","School of Mathematics and Statistics, Central South University, Hunan Changsha, P. R. China"],"affiliations":[{"raw_affiliation_string":"School of Mathematics and Statistics, Central South University, Changsha, P. R. China","institution_ids":["https://openalex.org/I139660479"]},{"raw_affiliation_string":"School of Mathematics and Statistics, Central South University, Hunan Changsha, P. R. China","institution_ids":["https://openalex.org/I139660479"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5100359738"],"corresponding_institution_ids":["https://openalex.org/I114218197","https://openalex.org/I139660479","https://openalex.org/I4210129476","https://openalex.org/I4391012565"],"apc_list":null,"apc_paid":null,"fwci":0.1795,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":{"value":0.52783058,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":93},"biblio":{"volume":"37","issue":"03","first_page":"2050012","last_page":"2050012"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":1.0,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":1.0,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10328","display_name":"Supply Chain and Inventory Management","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11161","display_name":"Consumer Market Behavior and Pricing","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1406","display_name":"Marketing"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/valuation","display_name":"Valuation (finance)","score":0.6041874885559082},{"id":"https://openalex.org/keywords/forward-auction","display_name":"Forward auction","score":0.5677395462989807},{"id":"https://openalex.org/keywords/common-value-auction","display_name":"Common value auction","score":0.5564311146736145},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.5504202246665955},{"id":"https://openalex.org/keywords/profit","display_name":"Profit (economics)","score":0.549595057964325},{"id":"https://openalex.org/keywords/revenue","display_name":"Revenue","score":0.5154427289962769},{"id":"https://openalex.org/keywords/revenue-management","display_name":"Revenue management","score":0.4655011296272278},{"id":"https://openalex.org/keywords/revenue-equivalence","display_name":"Revenue equivalence","score":0.45433005690574646},{"id":"https://openalex.org/keywords/reverse-auction","display_name":"Reverse auction","score":0.41949164867401123},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.4054795503616333},{"id":"https://openalex.org/keywords/auction-theory","display_name":"Auction theory","score":0.3586943745613098},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.24354228377342224},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.22706472873687744}],"concepts":[{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.6041874885559082},{"id":"https://openalex.org/C160903226","wikidata":"https://www.wikidata.org/wiki/Q5473265","display_name":"Forward auction","level":4,"score":0.5677395462989807},{"id":"https://openalex.org/C163239763","wikidata":"https://www.wikidata.org/wiki/Q5153637","display_name":"Common value auction","level":2,"score":0.5564311146736145},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5504202246665955},{"id":"https://openalex.org/C181622380","wikidata":"https://www.wikidata.org/wiki/Q26911","display_name":"Profit (economics)","level":2,"score":0.549595057964325},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.5154427289962769},{"id":"https://openalex.org/C2781386248","wikidata":"https://www.wikidata.org/wiki/Q11898700","display_name":"Revenue management","level":3,"score":0.4655011296272278},{"id":"https://openalex.org/C143684077","wikidata":"https://www.wikidata.org/wiki/Q431186","display_name":"Revenue equivalence","level":4,"score":0.45433005690574646},{"id":"https://openalex.org/C194291561","wikidata":"https://www.wikidata.org/wiki/Q2852717","display_name":"Reverse auction","level":3,"score":0.41949164867401123},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.4054795503616333},{"id":"https://openalex.org/C11276805","wikidata":"https://www.wikidata.org/wiki/Q771334","display_name":"Auction theory","level":3,"score":0.3586943745613098},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.24354228377342224},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.22706472873687744},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.0},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1142/s0217595920500128","is_oa":false,"landing_page_url":"https://doi.org/10.1142/s0217595920500128","pdf_url":null,"source":{"id":"https://openalex.org/S1254427","display_name":"Asia Pacific Journal of Operational Research","issn_l":"0217-5959","issn":["0217-5959","1793-7019"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319815","host_organization_name":"World Scientific","host_organization_lineage":["https://openalex.org/P4310319815"],"host_organization_lineage_names":["World Scientific"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Asia-Pacific Journal of Operational Research","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:wsi:apjorx:v:37:y:2020:i:03:n:s0217595920500128","is_oa":false,"landing_page_url":"https://www.worldscientific.com/doi/abs/10.1142/S0217595920500128","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.41999998688697815,"id":"https://metadata.un.org/sdg/16","display_name":"Peace, Justice and strong institutions"}],"awards":[{"id":"https://openalex.org/G2017663333","display_name":null,"funder_award_id":"71671190","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":35,"referenced_works":["https://openalex.org/W566586761","https://openalex.org/W793445699","https://openalex.org/W1181878987","https://openalex.org/W1494498837","https://openalex.org/W1506388421","https://openalex.org/W1983495934","https://openalex.org/W2011516239","https://openalex.org/W2015007620","https://openalex.org/W2029050771","https://openalex.org/W2032955583","https://openalex.org/W2043962114","https://openalex.org/W2054083384","https://openalex.org/W2058883788","https://openalex.org/W2069909730","https://openalex.org/W2083256317","https://openalex.org/W2095095223","https://openalex.org/W2100895566","https://openalex.org/W2123724911","https://openalex.org/W2128263608","https://openalex.org/W2136173599","https://openalex.org/W2143543407","https://openalex.org/W2337519543","https://openalex.org/W2537406782","https://openalex.org/W2555901684","https://openalex.org/W2596439313","https://openalex.org/W2640818536","https://openalex.org/W2944490796","https://openalex.org/W3121172388","https://openalex.org/W3122533535","https://openalex.org/W3122799521","https://openalex.org/W3123667225","https://openalex.org/W3124619170","https://openalex.org/W3125576929","https://openalex.org/W4253878099","https://openalex.org/W4301002413"],"related_works":["https://openalex.org/W1928389561","https://openalex.org/W1816920807","https://openalex.org/W2147417507","https://openalex.org/W3124136541","https://openalex.org/W890671221","https://openalex.org/W2620021887","https://openalex.org/W1494582758","https://openalex.org/W2366721448","https://openalex.org/W3123066129","https://openalex.org/W4286895340"],"abstract_inverted_index":{"Buy-price":[0],"auction":[1,20,85,139],"has":[2,25,114],"been":[3],"successfully":[4],"used":[5,82],"as":[6],"a":[7,23,37,60,109],"new":[8],"channel":[9],"of":[10,28,39,153,164,168,197],"online":[11,17,40],"sales.":[12],"This":[13],"paper":[14],"studies":[15],"an":[16,26],"sequential":[18],"buy-price":[19,41],"problem,":[21],"where":[22,111,128],"seller":[24,113,130,177],"inventory":[27],"identical":[29],"products":[30],"and":[31,120,137,171],"needs":[32],"to":[33,66,97,108,149],"clear":[34],"them":[35],"through":[36],"sequence":[38],"auctions":[42],"such":[43],"that":[44,184],"the":[45,52,72,76,79,99,104,112,121,124,129,142,151,158,162,166,172,176,186,192,201],"total":[46],"profit":[47],"is":[48,86,103,123,182,196,203],"maximized":[49],"by":[50,62,134],"optimizing":[51],"buy":[53],"price":[54],"in":[55,83],"each":[56],"auction.":[57],"We":[58],"propose":[59],"methodology":[61],"dynamic":[63,92],"programming":[64,93],"approach":[65],"solve":[67],"this":[68,84],"optimization":[69],"problem.":[70],"Since":[71],"consumers\u2019":[73,80,187],"behavior":[74],"affects":[75],"seller\u2019s":[77,100],"revenue,":[78],"strategy":[81],"first":[87],"investigated.":[88],"Then,":[89],"two":[90],"different":[91],"models":[94],"are":[95,147,189],"developed":[96],"optimize":[98],"decision-making:":[101],"one":[102],"clairvoyant":[105],"model":[106,127,195],"corresponding":[107],"situation":[110],"complete":[115],"information":[116],"about":[117],"consumer":[118],"valuations,":[119],"other":[122],"Bayesian":[125,193],"learning":[126,194],"makes":[131],"optimal":[132,159],"decisions":[133],"continuously":[135],"recording":[136],"utilizing":[138],"data":[140],"during":[141],"sales":[143],"process.":[144],"Numerical":[145],"experiments":[146],"employed":[148],"demonstrate":[150],"impacts":[152],"several":[154],"key":[155],"factors":[156],"on":[157],"solutions,":[160],"including":[161],"size":[163],"inventory,":[165],"number":[167],"potential":[169],"consumers,":[170],"rate":[173],"at":[174],"which":[175],"discounts":[178],"early":[179],"incomes.":[180],"It":[181],"shown":[183],"when":[185],"valuations":[188],"uniformly":[190],"distributed,":[191],"great":[198],"efficiency":[199],"if":[200],"demand":[202],"adequate.":[204]},"counts_by_year":[{"year":2021,"cited_by_count":1}],"updated_date":"2025-11-06T03:46:38.306776","created_date":"2025-10-10T00:00:00"}
