Impacts of hub nodes on the spread of Name-Your-Own-Price auction

He Huang, Yahong Chen, Li Zhou and Yusheng Hu
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He Huang: School of Economics and Management, China University of Geosciences (Beijing), Beijing 100083, P. R. China
Yahong Chen: School of Information, Beijing Wuzi University, Beijing 101149, P. R. China
Li Zhou: School of Information, Beijing Wuzi University, Beijing 101149, P. R. China
Yusheng Hu: School of Information Management, Beijing Information Science and Technology University, Beijing 100192, P. R. China

International Journal of Modern Physics C (IJMPC), 2022, vol. 33, issue 01, 1-16

Abstract: In the Name-Your-Own-Price (NYOP) auction, the spread of bidding information among buyers is incredibly important for both buyers and sellers. However, the impact of hub nodes on the spread of bidding information is less investigated. In this research, we proposed a directed distance index, and used it to explore the roles of hub nodes during an NYOP auction. The results showed significant impacts of hub nodes on buyers’ behaviors and seller profits, but the impacts highly depend on the fading speed of information. When information fades fast, the hub nodes should be more valued to increase buyers’ bidding intention and make them bid more wisely. Seller’s profits will also be increased. While information fades slow, the hub nodes and the regular nodes should be approximately valued. Moreover, we explored the case of sharing failed bids, and found that the roles of hub nodes become more salient when buyers are more willing to share the failed bids.

Keywords: Name-Your-Own-Price auction; information spread; hub nodes; complex network (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1142/S0129183122500085

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