Bidding strategy for Entertainment Ticket Auctions

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Bidding strategy for Entertainment Ticket Auctions

• - Bhalchandra Agashe

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Differentiating Characteristics of the
Entertainment CDA

• Most Dynamic part of the TAC
• Scope for making substantial profit

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How can the agent make profit ?

• Given
• Valuation V
• Ask Price Pa
• Bid Price Pb
• Profit Pa V
• Profit V Pb

4
Reference Profit (M)

• In order to make a buy/sell decision, the current
  profit has to be compared with some projected
  figure.
• How do we calculate this figure ?

5
Satisfactory Profit

• The profit that an agent is willing to settle for
• Why is this different from the reference profit ?
• Is it time dependent ?
• M(t) Mw(t)

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Satisfactory Profit
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Sellers strategy

• Current profit Pa V
• Satisfactory profit M(t)
• When should the agent sell ?
• Current profit gt satisfactory profit
• Otherwise ?
• - Revise the ask price

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Mertacor

• A long term profit seeking strategy
• Two additional variables
• Target profit (Average profit to be made by the
  end)
• Mean (Average profit made so far)
• Reference Profit Atarget Bmean
• Profit Pa 2V

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Mertacor

• Satisfactory Profit M(t) M w(t)

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How Mertacor fared at TAC 05 ?
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Wrap up

• Questions and/or Comments ?
• Thank you!