A Survey of Online Buyout Price Auction Mechanisms

Abstract

The progress of network technology and the transformation of shopping methods provide the foundation for the design and innovation of auction mechanisms. Buyout price auction mechanisms combine the traditional posted price with the online English auction, which add new vitality to online auctions and promote the development of auction mechanism theory. First, we analyse the author cooperation and research hotspots of the literature on buyout price auctions in the core collection of Web of Science by using CiteSpace software. Then, we review the literature via a classification method and describe the evolution and research progress of online buyout price auction mechanisms. This paper divides the current literature into three aspects: the causes of buyout price, the comparison of buyout price auction mechanisms and the setting of buyout price. Finally, we discuss the issues to be studied in the future.