뗚8뻭뗚3웚맜ꆡ샭ꆡ뿆ꆡ톧ꆡ톧ꆡ놨2005쓪6퓂ꆡꆡꆡꆡꆡꆡꆡꆡꆡJOURNALOFMANAGEMENTSCIENCESINCHINAꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡ뾼싇펶뷰뗄맘솪볛횵엄싴쒣탍ꋙ뇏횾캰1,췵ꆡ퇥2(11뮪훐뿆벼듳톧쫽톧쾵,커몺430074;21커몺듳톧쫽톧폫춳볆톧풺,커몺430072)햪튪:퓚뇪ힼ뗄횻뾼싇싲싴쮫랽뗄엄싴쒣탍훐틽죫뗚죽랽,엄싴릫쮾.엄싴릫쮾쳡릩럾컱튪쫕좡튻뚨뗄펶뷰,펶뷰럑폃평싲볒횧뢶,횧뢶뛮햼돉붻볛뗄뇈샽캪k.컄헂랢쿖,펶뷰뇈샽k뗄듳킡뛔싲싴쮫랽뻹폐튻뚨펰쿬:싲랽뗄돶볛닟싔뇤뗃뷷짷떫쫇웤뻹뫢웚췻쫕틦좴폫k컞맘;싴랽뗄웚췻쫕틦쫜떽펰쿬뛸붵뗍.쫂쪵짏,엄싴릫쮾뗄펶뷰뻍쫇살ퟔ폚싴랽뗄웚췻쫕틦훐.컄훐뻍뗚튻볛룱폫뗚뛾볛룱믺훆퓚맘솪볛횵쒣탍짏쳖싛펶뷰컊쳢,뗃떽뗄뷡맻폐뷏웕뇩뗄틢틥.맘볼듊:엄싴;펶뷰뇈샽;뻹뫢웚췻쫕틦훐춼럖샠뫅:F08ꆡꆡꆡ컄쿗뇪쪶싫:Aꆡꆡꆡ컄헂뇠뫅:1007-9807(2005)03-0024-040ꆡ틽ꆡ퇔랽ꆪꆪꆪ엄싴릫쮾튲뷩폚웤훐.쫂쪵짏,엄싴램맦뚨,엄싴탐캪뇘탫평쏅뗄엄싴릫쮾살닙ퟷ.ퟔ떱싴볒튪돶쫛튻쿮쳘폐뗄컯욷믲럾컱쪱좻,엄싴릫쮾튪듓엄싴탐캪훐믱좡튻뚨뗄펶뷰.놾,죧맻늻쟥돾잱퓚뗄싲볒붫믡뾪돶뛠룟뗄볛룱,뇣컞컄뻍맘솪볛횵쒣탍퇐뺿쇋폐뗚죽랽쟩탎뗄엄싴탐램좷뚨튻룶뫏쫊뗄뻹뫢볛룱살뷸탐싲싴캪컊쳢,쯹뾼싇뗄펶뷰폫엄싴볛돉뇈샽,(샽죧,쫇.엄싴랽쪽놻죏캪쫇헢샠컯욷뗄ퟮ병쿺쫛랽쪽.뺡맜죋샠엄싴돉붻볛뗄5%)늢쟒쫇평싲볒횧뢶.평듋닺짺뗄엄싴믮뚯틑폐2500쓪뗄샺쪷,떫쫇뛔웤샭싛뗄뗄컊쳢쫇:폫늻뾼싇펶뷰쿠뇈,싲볒뗄돶볛닟싔믡퇐뺿좴쫇뷼벸쪮쓪뗄쫂쟩.ퟔ듓1961쓪뺭볃톧볒늻믡틲캪튪뷉쓉펶뷰뛸폐쯹뇤뮯?싴볒뗄웚췻쫕캬뿋죰(Vickrey)뗄컄헂랢뇭틔살,탭뛠톧헟뛔엄틦쫇럱믡쫜떽펰쿬?싴믺훆뗄샭싛뷸탐쇋듳솿뛸짮죫뗄첽쳖.헢킩컄뛔헢튻펶뷰컊쳢,놾컄퓚맘솪볛횵엄싴쒣탍헂훐폐뛔쒳튻훖컯욷믲럾컱뗄엄싴믺훆뗄짨볆랽쿂,헫뛔럢뇪뗚튻볛룱엄싴(First-priceSealed-bid낸뗄퇐뺿,샽죧쪯폍ꆢ쳬좻웸ꆢ뿳님뗄뾪닉좨,맺햮Auction)폫럢뇪뗚뛾볛룱엄싴(Second-priceSealed-랢탐,뗧톶풴쪹폃뗄엄싴컊쳢\[1ꆫ3\],튲폐탭뛠컄bidAuction)뷸탐쇋쳖싛,뗃돶쇋뷏폐뺭볃틢틥뗄헂쫇퓚쪵볊컊쳢뗄놳뺰쿂,헫뛔뇪ힼ뗄엄싴믺훆뷡싛:펶뷰뗄쫕좡쯤좻펰쿬떽싲랽뗄돶볛닟싔,쪹훐뗄쳵볾뷸탐췆맣믲룄퓬뗄퇐뺿\[4ꆫ6\].샽죧싲볒횮욫폚놣쫘,떫좴늻믡룄뇤싲랽뗄웚췻쫕틦.뛸쇭횮볤탅쾢,뷰,맦쒣뗄럇뛔돆탔쟩탎뗄퇐뺿,엄튻랽쏦,쯤좻뇭쏦짏펶뷰늻평싴랽횧뢶,떫펶뷰헾싴컯욷뗄볛횵뗄샠탍뗄퇐뺿뗈\[7ꆫ14\].닟좴쪹싴볒뗄웚췻쫕틦쿂붵,벴쪵훊짏펶뷰쫇평뺭뗤뗄엄싴샭싛\[15,16\횻]뾼싇싲볒폫싴볒솽싴볒횧뢶뗄.늢쟒,폫늻뾼싇펶뷰뗄뇪ힼ쟩탎쿠룶훷쳥.퓚듋믹뒡짏럖컶싲싴쮫랽퓚ퟮ듳샻틦풭뇈,싴볒퓚뗚튻볛룱엄싴뫍뗚뛾볛룱엄싴믺훆쿂퓲쟽뚯쿂뗄탐캪쳘뗣.냼삨:싲랽뗄ퟮ폅돶볛닟뗄웚췻쫕틦뗄뇈뷏뚨샭틀좻돉솢.뷨훺놾컄쒣탍,싔,싴랽뗄웚췻쫕틦,죫쏅럑벰놣쇴볛뗈뗈.떫퓚뿉틔뛔펶뷰헾닟뗄ퟷ폃뗄죏쪶룼볓놾훊.놾컄쯹쿖쪵뗄엄싴믮뚯훐,돽쇋싲싴쮫랽횮췢,뮹폐뗚죽쪹폃뗄맘솪볛횵쒣탍믹폚컄쿗\[16\].ꋙ쫕룥죕웚:2002-09-20;탞뚩죕웚:2005-01-19.믹뷰쿮쒿:맺볒ퟔ좻뿆톧믹뷰훺쿮쒿(70071012).ퟷ헟볲뷩:뇏횾캰(1957ꆪ),쓐,뫾놱죋,뢱뷌쫚.
뗚3웚ꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡ뇏횾캰뗈:뾼싇펶뷰뗄맘솪볛횵엄싴쒣탍ꆪ25ꆪ짨X1,X2,ꆭ,Xn쫇뺺싲죋1,2,ꆭ,n뛔컯욷1ꆡ엄싴뗄믹놾횪쪶뗄움볛뇤솿,쎿캻뺺싲죋횻횪뗀ퟔ벺뛔컯욷뗄움볛횵,늻쇋뷢뇰죋뗄움볛횵,틲뛸X(i1ꇜiꇜn)엄싴ퟷ캪튻훖짌욷믲럾컱뗄폐킧붻틗믺훆,뚼쫇쯦믺뇤솿,짨듳볒뛔컯욷뗄움볛쫇샭탔뗄,벴틑폐2500뛠쓪뗄샺쪷.퓚떱뷱뗄뺭볃믮뚯훐쯼틑듦퓚폐쿞쟸볤[x,x\],쪹뗃Xi뗄횵xiꇊ[x,x\],뺭쫇튻훖럇뎣믹놾뗄풴엤훆쫖뛎.엄싴믺훆뗄1ꇜiꇜn.폃S뇭쪾싴볒릫늼뗄맘폚컯욷욷훊믹놾풭샭퓚폚틀뻝쫊떱뗄엄싴맦퓲,춨맽뺺싲죋뗄탅쾢,죧횤쫩,본뚨놨룦뗈,퓲뺺싲죋i맘폚컯뗄뺺헹뛸ퟮ듳뗘쪵쿖놻엄싴컯욷뗄볛횵,돶볛ퟮ욷뗄볛횵믡쫜웤쯻죋뗄맀볛벰S뗄펰쿬,늢쟒평룟헟믱뗃놻엄싴컯욷,듓뛸쪵쿖컯뗄뫏샭엤훃.폚헢킩탅쾢췹췹퓚뺺싲맽돌훐닅쿔쪾돶살,맊늻뒫춳뗄엄싴랽쪽폐쯄훖:릫뾪쪽퓶볛엄싴(펢쓜풤쿈뇭듯떽xi횮훐,폚쫇,튻떩싲볒i좡쪤,퓲쪽엄싴),릫뾪쪽붵볛엄싴(뫉삼쪽엄싴),쏜럢쪽쯻맘폚컯욷뗄볛횵Vi뇣펦떱쫇S벰X(i1ꇜiꇜn)뗚튻볛룱엄싴벰쏜럢쪽뗚뛾볛룱엄싴\[4,16\].평폚뗄몯쫽,볇웤탎쪽캪놻엄싴컯욷뗄볛횵늻좷뚨(럱퓲닉폃뚨볛붻틗),Vi=u(S,X1,ꆭ,Xn),ꆡ(1ꇜiꇜn)(1)믲헟쮵,잱퓚뗄뺺싲죋뛔컯욷뗄볛횵맀볆늻좷뚨,웤훐,몯쫽u싺ퟣ럇뢺,솬탸,욫떼럇뢺,웚췻횵폐맊퓚뺺싲쪱뗄싲볒뗄돶볛믡폐쯹닮틬.틑폐뗄샭쿞뗈쳵볾.뛸쯦믺뇤솿S,X1,ꆭ,Xn뗄솪뫏럖늼싛\[12\틑]뺭횤쏷:퓚튻뚨뗄쳵볾쿂,떱뺺싲죋뛔컯쏜뛈몯쫽f싺ퟣ쯹캽뗄ꆰ맘솪쳵볾ꆱ.욷뗄볛횵캪쮽폐볛횵(돆ퟷ쮽폐볛횵쒣탍)쪱,짏92(lnf)/9zi9zꇝj0Ζ쫶쯄훖엄싴믺훆뛔싴볒뗄뷡맻튻퇹:웚췻쫕틦쿠ꆡꆡf(z1,ꆭ,zm)쫇맘솪몯쫽(2)뗈.뛸떱뺺싲죋뛔컯욷뗄볛횵움볛쫜뛠룶랽쏦뗄헢튻쳵볾뗄뺭볃틢틥쫇횸,떱뇰죋뛔컯욷뗄맀볛탅쾢쯹펰쿬쪱,샽죧볈폐ퟔ벺뗄맀볆,튲쫜웤쯻뺺뾴뫃쪱,쓣뗄움볛튲뾴뫃뗄룅싊뷏듳,헢튻쳵볾뫜싲죋뗄뾴램뫍맘폚컯욷뗄욷훊놨룦뗈펰쿬(돆ퟷ죝틗놻싺ퟣ,샽죧쮽폐볛횵폫릲춬볛횵쒣탍.맘솪볛횵쒣탍),퓲짏쫶웚췻쫕틦뗈볛뚨샭늻퓙틔쿂솽뷚럖뇰뻍뗚튻볛룱벰뗚뛾볛룱엄싴맦돉솢.퓲뾼싇폐펶뷰럑폃쟩탎뗄뺺싲죋뗄뺺볛탐캪벰싴뛔튻킩볛횵에뛏훐몬룶탔돉럖뫜잿뗄컯욷,볒뗄웚췻쫕틦뇤뮯컊쳢.죧쫕님뗄틕쫵욷,뎪욬,쳘뇰뗄뗧뮰뫅싫뗈,뿉틔닉폃쮽폐볛횵쒣탍살뇭쪾웤엄싴탐캪.3ꆡ폐펶뷰뗄뗚뛾볛룱엄싴뛔튻킩볛횵에뛏훐룶탔뫍릲탔돉럖뚼폐뗄컯욷,죧뿳님뾪랢좨,뗘닺,맣룦없캻,맺햮뗈,뿉틔놣돖틔짏볇뫅폫볙뚨.볇Y1=mꢻx(X2,X3,닉폃맘솪볛횵쒣탍살뇭쪾.웤훐룶탔뗄샭뷢늻쿞ꆭ,X폚룶죋뗄낮뫃,뮹퓚폚룶쳥뛔컯욷뗄볛횵뗄뾴램n),b(ꆤ)캪뻹뫢돶볛몯쫽.떱X1=x,Y1=쪱컯욷뗄웚췻볛횵캪(볻컄쿗[2])(샽죧쫐뎡잰뺰,쿺쫛랽쪽뗈).v(x,)=E[V1:X1=x,Y1=](3)평폚쪤헟쫇틀헕뗚뛾룟돶볛붻틗컯욷,맊뺺싲죋2ꆡ맘솪볛횵쒣탍1퓚맀볛X1=x,돶볛캪b(t)쪱뗄웚췻쫕틦쫇ꛐ=E[(v(x,)-(1+k)b())ꆤ뾼싇튻룶싴볒,튻룶늻뿉럖룮뗄엄싴욷벰nꆡꆡ1{b()<b(t)}:X1=x](4)룶뺺싲죋쟩탎.웤훐,k쫇펶뷰쾵쫽,0<k<1.킴ퟷ믽럖쪽,폐짨n룶뺺싲죋쫇컞닮틬뗄,틲뛸닉폃췪좫쿠춬뗄뺺볛닟싔,폖짨쯻쏇쫇럧쿕훐탔뗄,틲뛸ힷ쟳ꛐ=ꇒt[v(x,)-(1+k)b()]ꆤx쫕틦뗄ퟮ듳뮯.fY(1|x)d(5)
ꆪ26ꆪ맜ꆡ샭ꆡ뿆ꆡ톧ꆡ톧ꆡ놨ꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡ2005쓪6퓂웤훐,fY(1|x)쫇X1=x쿂,Y1뗄쳵볾럖늼쏜뛈돶볛살붻틗컯욷,맊퓚X1=x,Y1=쪱,뺺싲죋몯쫽,쿠펦뗄쳵볾럖늼몯쫽볇ퟷFY(1퓚돶볛캪b(t)쪱뗄웚췻쫕틦쫇1|x).싲볒1뗄컊쳢쫇:쟳돶ퟮ폅뻹뫢돶볛닟싔,죔ꛐ=E[(v(x,)-(1+k)ꆤ볇ퟷbꆡꆡb(t(ꆤ),쪹ꛐퟮ듳))1{b()<b(t)}:X1=x]=.평튻뷗쳵볾dꛐ=0뿉뗃떽맘폚b(ꆤ)뗄dꇒt[v(x,)-(1+k)b(t)]dFY(1|x)xt|t=x랽돌죧쿂(11):웤훐,볇뫅뗄몬틥춬짏뷚.싲볒1뗄컊쳢틀좻쫇:[v(x,x)-(1+k)b(x)]fY(1x|x)=0,ꆡꆡꆡꆡ쟳ퟮ폅돶볛닟싔b(ꆤ),쪹웤웚췻쫕틦ꛐퟮ듳.xꇊ[x,x](6)뷢돶평튻뷗쳵볾dꛐ=0뗃떽맘폚b(ꆤ)뗄캢dt|t=xb(x)=1(x,x)(럖랽돌1+v7)k헢뇣쫇싲볒1,듓뛸쫇쎿룶싲볒뗄ퟮ폅돶볛닟싔.-ꇒx(1+k)bꇤ(x)dFY(1|x)+\[v(x,x)-쳘뇰x,떱k=0쪱,폐ꆡꆡ(1+k)b(x)]fY(1x|x)=0(12)b(x)=v(x,x)=E[V1|X1=Y1=x]샻폃FY(1x|x)=0,맘폚믽럖뇤솿믽럖,뗃(8)(1+k)bꇤ(x)FY(1x|x)+(1+k)b(x)ꆤ뇈뷏쪽(7)(8)뛸횪,평폚펶뷰틲쯘,뺺싲죋뗄돶볛뇤뗍쇋튻킩.떫쫇ꆡꆡfY(1x|x)=v(x,x)fY(1x|x)(13),붫쪽(7)듺죫쪽(5)뿉췆돶,닉폃뻹뫢닟싔쪱뺺싲죋뗄ퟮ듳웚췻쫕틦캪짏쪽솽뇟퓚쟸볤[x,x]짏믽럖(힢틢떽쪽(13)뗄뗈뫅ퟳ뇟쫇돋믽몯쫽(1+k)b(x)FY(x|x)뗄떼1mꢻxꛐ=ꇒxv(x,)-(1+k)ꆤx쫽),뗃ꆡꆡ1(1+k)b(x)FY(1x|x)=v(,)]dF1+Y(k1|x)=ꆡꆡꇒxꆡꆡꆡꆡꇒxv(ꛁ,ꛁ)fY(ꛁ1|ꛁ)dꛁ(14)[v(x,)-v(,)]dFY(1|x)(9)xx폫늻쫕좡펶뷰믲(k=0)쪱뗄뷡맻튻퇹.쇭튻랽쏦1,떱X1=x,Y1=쪱뗄싴볒뗄웚b(x)=1ꆤ1+kFY(1x|x)췻쫕틦캪ꆡꆡꆡꆡꇒxv(ꛁ,ꛁ)fY(ꛁ1|ꛁ)dꛁ(15)1Rx(x,)=E[b(x)]=E[1+v(x,x)]=k평쪽(15),폫늻쫕좡펶뷰(k=0)쿠뇈,뻹뫢돶볛ꆡꆡꆡꆡ1E[v(x,x)](10)1+k뇤뗍쇋튻킩.떫쫇붫쪽(15)듺믘떽쪽(11),뿉틔폫늻쫕좡펶뷰(k=0)쪱뗄R=E[v(x,x)]쿠뗃떽뇈,싴볒뗄웚췻쫕틦폐쯹쿂붵.벴폐쏼쳢1ꆡ퓚뾼싇펶뷰뗄맘솪볛횵뗚뛾볛룱엄ꆡmꢻxꛐ=ꇒx11(1+k)x[v(x,)-1+ꆤkFY(1x|x)싴훐,뺺싲죋뗄뻹뫢돶볛믡쯦펶뷰볛k뗄퓶볓뛸ꆡ쿠펦붵뗍ꇒxv(ꛁ,ꛁ)fY(ꛁ1|ꛁ)dꛁx]dFY(1|x)=,떫뺺싲죋뗄웚췻쫕틦좴늻쫜펶뷰펰쿬;폫횮쿠랴,싴볒뗄웚췻쫕틦퓲틲펶뷰볛k뗄퓶볓ꆡ뛸복짙ꇒxx[v(x,1)-ꛁ,ꛁ)ꆤFY(1x|x)ꇒxv(x.ꆡfY(ꛁ1|ꛁ)dꛁ]dFY(1|x)(16)4ꆡ폐펶뷰뗄뗚튻볛룱엄싴짏쪽훐늻냼몬쾵쫽k,틲듋,싲볒뗄ퟮ듳웚췻쫕틦폫펶뷰볛k컞맘.쇭튻랽쏦,싴볒뗄쫕틦살풴폚싲퓚뗚튻볛룱엄싴믺훆쿂,좡쪤헟틀뻝ퟔ벺뗄볒뗄웚췻돶볛,맊뗃떽폫짏튻뷚샠쯆뗄뷡맻:
뗚3웚ꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡ뇏횾캰뗈:뾼싇펶뷰뗄맘솪볛횵엄싴쒣탍ꆪ27ꆪ쏼쳢2ꆡ퓚뾼싇펶뷰뗄맘솪볛횵뗚튻볛룱엄싴훐,뺺싲죋뗄돶볛뷏늻쫕좡펶뷰쪱폐쯹붵뗍,떫5ꆡ뷡쫸폯웤뻹뫢웚췻쫕틦늻쫜펶뷰펰쿬,폫횮쿠랴,싴볒뗄웚췻쫕틦퓲틲쫕좡펶뷰럑폃뛸폐쯹복짙.맘솪볛횵쒣탍뷏뫃뗘뿌뮮쇋쿖쪵뺭볃믮뚯훐컄쿗[15]틑횤쏷,퓚맘솪볛횵쒣탍쟩탎,뗚뗄ꆰ맘솪컯욷ꆱ뗄볛횵.쯼냼몬쇋쮽폐볛횵컯욷폫뛾볛룱믺훆쿂싴볒뗄웚췻쫕틦튪룟폚뗚튻볛룱믺릫릲볛횵컯욷뗄엄싴컊쳢.퓚듋믹뒡짏틽죫펶뷰훆쿂뗄웚췻쫕틦.싲볒뗄웚췻쫕틦퓲쿠뛔붵뗍.평틲쯘뿉틔뷏뫃뗘랴펳뿍맛쿖쪵.폚쫕좡펶뷰늻펰쿬싲볒뗄웚췻쫕틦,맊헢튻뷡맻춨맽틔짏쒣탍벰쏼쳢,뛔뺺싲죋폫싴볒퓚펶퓚펶뷰쟩탎튲쫇돉솢뗄뷰쟩탎뗄뻹뫢돶볛웚췻쫕틦뗄럖컶뷡맻쿔쪾,쯤.쏼쳢3(뇈뷏뚨샭좻펶뷰쫇평뺺싲죋횧뢶뗄,떫늢늻펰쿬웤웚췻쫕)ꆡ퓚뾼싇쿠춬뗄펶뷰럑폃뗄맘솪볛횵쒣탍훐,폫뗚튻볛룱믺훆쿠뇈,뗚뛾볛틦,듓헢룶틢틥짏뾴,쫕좡펶뷰뛔뺺싲죋쎻폐샻몦룱믺훆쪹뗃싴볒뗄웚췻쫕틦퓶듳,뺺싲죋뗄뻹뫢맘쾵,떫쫇좴붵뗍쇋싴볒뗄웚췻쫕틦,뺡맜뇭쏦짏웚췻쫕틦복짙뾴펶뷰늻쫇평싴볒쯹횧뢶뗄..닎뾼컄쿗:\[1\A]\[J\].JournalofInternationalMoneyandFinance,2001,20:74ꆪ3767.\[2\]\[J\].ResourcesPolicy,2000,26:ꆪ316.\[3\]:Lessonsfromexperience\[J\].TelecommunicationsPolicy,2001,25:6ꆪ71688.\[4\]MaskinE,\[J\].ReviewofEconomicStudies,2000,67:4ꆪ13438.\[5\]HanHong,\[J\].JournalofEconometrics,2003,112:3ꆪ27358.\[6\]\[J\].JournalofEconomicTheory,2002,106:1ꆪ6176.\[7\]&D\[J\].EuropeanEconomicReview,1997,41:16ꆪ551674.\[8\]-priceandsecond-price,sealed-bidauctionswithinthecommon-valueparadigm\[J\].ComputationalEconomics,2002,19:227ꆪ244.\[9\]ChakrabortyI,\[J\].EconomicsLetters,2001,72:1ꆪ95200.\[10\D]eltasG,\[J\].EconomicsLetters,2001,73:3ꆪ542.\[11\쇵]쫷쇖,췴쫙퇴,샨붨잿.춶뇪폫엄싴뗄벸룶쫽톧쒣탍\[J\].맜샭뿆톧톧놨,1998,1(2):11ꆪ,WangShouyang,\[J\].JournalofManagementSciencesinChina,1998,1(2):11ꆪ16.(inChinese)\[12\샮]캪뇹,헅쇐욽.엄싴폫첸에샭싛퇐뺿\[J\].짏몣붻춨듳톧톧놨,2000,34(11):1566ꆪ,\[J\].JournalofShanghaiJiaotongUniversity,2000,3(411):1566ꆪ1569.(inChinese)\[13\믆]뮳횾,뫎ꆡ쏺,췵뎾.늻췪좫탅쾢쿂뗄럢뇕춶뇪쪽엄싴믺훆퇐뺿\[J\].짏몣붻춨듳톧톧놨,1997,31(4):16ꆪ,HeMing,-bidauctionmechanismwithincompleteinformation\[J\].Jo2urnalofShanghaiJiaotongUniversity,1997,31(4):16ꆪ22.(inChinese)\[14\K]\[M\].London:AcademicPress,2002.\[15\]MilgromPR,\[J\].Econometrica,1982,50:10ꆪ891122.\[16\]RileyJG,\[J\].AmericanEconomicReview,1981,71:3ꆪ81392.\[17\햲]컄뷜,췴쫙퇴.움ꆰSmith냂쏘ꆱ폫쮫쿲엄싴뗄퇐뺿뷸햹\[J\].맜샭뿆톧톧놨,2003,6(1):1ꆪ,ꆯsmysteryanddevelopmentofdoubleauctions\[J\].JournalofManagementS2ciencesinChina,2003,6(1):1ꆪ12.(inChinese)(쿂뗚80튳)
ꆪ80ꆪ맜ꆡ샭ꆡ뿆ꆡ톧ꆡ톧ꆡ놨ꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡꆡ2005쓪6퓂InventorymodelswithresourceconstraintsandshortagesallowedonseasonaldemandCHANGChing2T1er,,NationalChanghuaUniversityofEducation,TaiwanChanghua50058,China;,TaiwanTaoyuan33000,ChinaAbstract:Tothebestofauthorsꆯknowledgethereisnoworkdoneontheinventoryproblemwithseasonaldemand,shortagesallowed,,,:inventory;seasonaldemand;shortages;resourceconstraints(짏뷓뗚27튳)AffiliatedvaluemodelconsideringeffectofcommissionBIZhi-w1ei,,HuazhongUniversityofScienceandTechnology,Wuhan430074,China;,WuhanUniversity,Wuhan430072,ChinaAbstract:ꆯsbidstrategyandtheexpectedprofitsoftheseller:bidderꆯsbidbecomesmorepassivebutitsexpectedprofitsisnotdependentonthecommissionratek;thesellerꆯ,,:auction;commissionrate;equilibriumexpectedrevenue
