Stabilizing markets via a novel auction based pricing mechanism for short-term contracts for network services

@article{Lee2005StabilizingMV,
  title={Stabilizing markets via a novel auction based pricing mechanism for short-term contracts for network services},
  author={Juong-Sik Lee and Boleslaw K. Szymanski},
  journal={2005 9th IFIP/IEEE International Symposium on Integrated Network Management, 2005. IM 2005.},
  year={2005},
  pages={367-380}
}
This paper studies pricing mechanisms for short-term contracts for network services in a recurring auction with sealed bids. We propose and evaluate a novel winner selection policy in such an auction. The new approach was motivated by an observation that in a recurring auction enough customers must be willing to participate in future auction rounds to prevent collapse of prices. Using simulations, we compare the proposed mechanism with traditional ones. The results demonstrate that the new… CONTINUE READING

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