1. week 3 1 COS 444 Internet Auctions: Theory and Practice Spring 2008 Ken Steiglitz ken@cs.princeton.edu

2. week 32 Field experiments: Testing theory LR 99: tests FP-Dutch and SP-English revenue equivalence online (pre-eBay) LR 99: tests FP-Dutch and SP-English revenue equivalence online (pre-eBay) LR 00: tests effects of reserves in FP online (pre-eBay) LR 00: tests effects of reserves in FP online (pre-eBay) Katkar-LR 00: tests public vs. secret reserve on eBay Katkar-LR 00: tests public vs. secret reserve on eBay

3. week 33 Field results LR 99: Revenue: English ~ SP, LR 99: Revenue: English ~ SP, Dutch > FP Dutch > FP LR 00: open reserve in FP auctions reduces no. of bidders, reduces prob{sell}, increases revenue conditional on selling… total revenue? LR 00: open reserve in FP auctions reduces no. of bidders, reduces prob{sell}, increases revenue conditional on selling… total revenue? Katkar-LR 00: open reserve increases prob{sell} and revenue---relative to secret reserve (eBay) Katkar-LR 00: open reserve increases prob{sell} and revenue---relative to secret reserve (eBay)

4. week 34 Theory Order statistics Order statistics pdf of k-th highest pdf of k-th highest cdf of k-th highest cdf of k-th highest  Application to revenue calculation

5. week 35 eBay’s algorithm What is eBay's complete algorithm? What is eBay's complete algorithm? Raising your own (high) Raising your own (high) bid below secret reserve bid below secret reserve  Raising your own (high) bid when you're less than a bidding increment above the second price you're less than a bidding increment above the second price  Etc.