Duffy, John; Ünver, M. Utku - In: Journal of Economic Behavior & Organization 67 (2008) 2, pp. 394-417
We develop a model of internet auctions with the aim of understanding how rules for ending such auctions (a "hard"- or "soft"-close) affect bidding behavior. We model bidding strategies using finite automata and report results from simulations involving populations of artificial bidders who...