Download or read book The Timing of Bids in Internet Auctions written by Axel Ockenfels and published by . This book was released on 2001 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Late Bidding in Internet Auctions written by Ying Zhang and published by . This book was released on 2011 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical studies have documented that buyers in internet auctions tend to bid immediately before the scheduled closing time. This practice of late bidding is often called sniping. My dissertation investigates this phenomenon from both theoretical and empirical aspects. The first chapter of my dissertation studies a second-price independent private value auction with two risk-neutral buyers who can submit a single bid either early or late. Early bids are received by the auctioneer with probability one, but late bids are received with a probability less than one. I prove that there can exist a symmetric cutoff equilibrium in which high-value buyers always bid early and low-value buyers bid late as long as their opponent has not bid early. A sufficient condition is then identified for the existence of the cutoff equilibrium with late bidding. Finally, I illustrate the equilibrium with examples from the beta distribution on values. The second chapter of my dissertation empirically investigates the impact of late bidding on the final price of internet auctions. Using a dataset collected from eBay, I estimate the time after which late bidding has a differential impact on the final price. The time is estimated as a structural break in the data using a method proposed by Bai (1997). The break point occurs approximately three minutes before the close of the auction. The empirical findings indicate that buyers who won auctions by bidding in the last three minutes were typically more experienced than other winners and that they won the auctions for used items at lower prices. The third chapter of my dissertation extends the first chapter by introducing an uncertainty on the number of buyers through a Poisson arrival process. In addition, I investigate the impact of late bidding on the seller's expected revenue and provide numerical comparative statics for the equilibrium.

Download or read book Modeling Online Auctions written by Wolfgang Jank and published by John Wiley & Sons. This book was released on 2010-12-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explore cutting-edge statistical methodologies for collecting, analyzing, and modeling online auction data Online auctions are an increasingly important marketplace, as the new mechanisms and formats underlying these auctions have enabled the capturing and recording of large amounts of bidding data that are used to make important business decisions. As a result, new statistical ideas and innovation are needed to understand bidders, sellers, and prices. Combining methodologies from the fields of statistics, data mining, information systems, and economics, Modeling Online Auctions introduces a new approach to identifying obstacles and asking new questions using online auction data. The authors draw upon their extensive experience to introduce the latest methods for extracting new knowledge from online auction data. Rather than approach the topic from the traditional game-theoretic perspective, the book treats the online auction mechanism as a data generator, outlining methods to collect, explore, model, and forecast data. Topics covered include: Data collection methods for online auctions and related issues that arise in drawing data samples from a Web site Models for bidder and bid arrivals, treating the different approaches for exploring bidder-seller networks Data exploration, such as integration of time series and cross-sectional information; curve clustering; semi-continuous data structures; and data hierarchies The use of functional regression as well as functional differential equation models, spatial models, and stochastic models for capturing relationships in auction data Specialized methods and models for forecasting auction prices and their applications in automated bidding decision rule systems Throughout the book, R and MATLAB software are used for illustrating the discussed techniques. In addition, a related Web site features many of the book's datasets and R and MATLAB code that allow readers to replicate the analyses and learn new methods to apply to their own research. Modeling Online Auctions is a valuable book for graduate-level courses on data mining and applied regression analysis. It is also a one-of-a-kind reference for researchers in the fields of statistics, information systems, business, and marketing who work with electronic data and are looking for new approaches for understanding online auctions and processes. Visit this book's companion website by clicking here

Download or read book Bid to Win on Ebay written by Patrick C. Cook and published by Pagefree Publishing. This book was released on 2004 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bid to Win on eBay takes an in-depth look at strategies for bidding in eBay online auctions. Competitive bidding tactics are explored that help the reader competitively position in eBay auctions. Strategic bidding enhances the enjoyment of buying on eBay and helps the reader remain aware and alert leading to a safer and more enjoyable experience with eBay auctions.

Download or read book Late and multiple bidding in competing second price internet auctions written by Marta Stryszowska and published by . This book was released on 2004 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book EBay Secrets written by Steven Ellis White and published by Krug Industries, Inc.. This book was released on 2004-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do you want to make more money on eBay (or any other Internet auction site)? Or, are you looking for an easy second income? Thousands of new users are joining eBay every day. You can take advantage of this trend and make a lot of money. But before you get started, there are some things you need to know. eBay Secrets will walk you though the steps to getting your Internet auction business rolling. It is packed full of tips and secrets that will help you get more money for your auction listings. eBay Secrets is based on the techniques that Steve White has been teaching students in his exclusive seminars on making money on eBay. Never before have all of Mr. White's powerful money-making secrets been available in book format. Here are just a few of the topics that are covered in the book:? The two most important secrets to making money on eBay.? 14 places to find cheap things to sell? 15 techniques to increase the number of bids you get? Three things you should NEVER do in an eBay listing? Ten tricks that will make your listings much more effective? The best starting bid for your items? Why your title is critical? A three-step process to find the perfect title? Four words to include in your titles to get even more money for your items? The best time to list your items? Why you should never use a reserve? The one thing that you should never mention in the description? Which listing options are worth the extra cost? How to avoid paying to have pictures in your listings? The only eight things that you need to get started making money on eBay? Seven ways you can get started with no money? Why user feedback is misleading? How to write a description that gets more bids? Everything you need to know about writing HTML in your listings? What to charge for shipping? A printable checklist so you never forget any steps when creating listings? Four email templates for common situations? What to do if someone doesn't pay? Examples of the best and worst auctions? And much, much more ...

Download or read book eBay For Seniors For Dummies written by Marsha Collier and published by John Wiley & Sons. This book was released on 2009-11-09 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Expert advice helps seniors find bargains and make money on eBay eBay is a great place to help seniors find bargains or supplement their income by selling items. This book offers the basics on buying or selling on eBay with confidence in a format that's ideal for the senior audience, including a larger print format than traditional For Dummies books. Author Marsha Collier is the undisputed authority on eBay. Her advice has helped millions of eBay users navigate the popular shopping and selling site. This book explains how to Get your computer ready to use eBay Go to the eBay site, sign up, and browse Spot good deals, buy items, and pay safely Set up your own sale Take pictures of your merchandise and get them online Receive payment and ship items Understand eBay's fees and rules eBay can be fun and profitable. This book makes it easy to get started!

Download or read book Early Late and Multiple Bidding in Internet Auctions written by Radovan Vadovic and published by . This book was released on 2014 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Internet auctions bidders frequently bid in one of three ways: either only early, or late, or they revise their early bids. This paper rationalizes all three bidding patterns within a single equilibrium. We consider a model of a dynamic auction in which bidders can search for outside prices during the auction. We find that in the equilibrium bidders with the low search costs bid only late and always search, while the bidders with high search costs bid early or multiple times and search only if they were previously outbid. An important feature of the equilibrium is that early bidding allows bidders to search in a coordinated manner. This means that everyone searches except the bidder with the highest early bid. We also compare the static and dynamic auction and conclude that dynamic auction is always more efficient but not always more profitable.

Download or read book Internet Auctions written by Ernan Haruvy and published by Now Publishers Inc. This book was released on 2010 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Internet Auctions reviews recent empirical and theoretical works on internet auctions with a focus on internet auction design, formats, and features that are currently debated in the marketing literature.

Download or read book Bayesian Estimation of Bid Sequences in Internet Auctions Using a Generalized Record Breaking Model written by Eric Bradlow and published by . This book was released on 2006 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sequence of bids in Internet auctions can be viewed as record breaking events in which only those data points that break the current record are observed. We investigate stochastic versions of the classical record breaking problem for which we apply Bayesian estimation to predict observed bids and bid times in Internet auctions. Our approach to addressing this type of data is through data augmentation in which we assume that participants (bidders) have dynamically changing valuations for the auctioned item, but the latent number of bidders competing in those events is unseen.We use data from notebook auctions provided by one of the largest Internet auction sites in Korea. We find significant variation in the number of latent bidders across auctions. Our other primary findings are as follows: (1) The latent bidders are significant in number relative to observed bidders; (2) The latent number of remaining bidders is considerably smaller than that of new entrants to the auction, after a given bid; and (3) Larger bid and time increments significantly influence the bidding participation behavior of the remaining bidders. As part of our substantive contribution, we highlight the model's ability to understand brand equity in an Internet auction context through a brand's ability to simultaneously bring in bidders, higher bid amounts and faster bidding.

Download or read book Selling and Bidding in Internet Auctions written by Barbora Máková and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an empirical analysis of price determinants and bidders' behavior in online auctions eBay.de and Aukro.cz. We focus on the effect of sellers' feedback rating score and the phenomenon of sniping. Buyers in online auctions cannot personally inspect the quality of the product, so they have to rely on seller's honesty. In this setting, seller's rating may significantly contribute to the final price formation. Sniping is a bidding strategy, whereby a bidder waits until the last moment of the bidding period to place her bid. The impact of sniping on the final price and parameters affecting the probability of sniping are examined in this paper. The empirical results for both auction web sites show that seller's feedback rating score has significant impact on the final price. The tests regarding sniping provided significant results only for the eBay auction. The effect of sniping on final price is not clear since we obtain different results for different specifications, but we found out that the experience of a bidder increases the probability of placing snipe bid. The study should be especially useful to all users of internet auction portals.

Download or read book EBay Hacks written by David Aaron Karp and published by "O'Reilly Media, Inc.". This book was released on 2003 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a collection of tips and techniques for getting the most out of eBay.

Download or read book Some Evidence on Late Bidding in Ebay Auctions written by Ladislav Wintr and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bidding in the last seconds or minutes of an auction is a common strategy in Internet auctions with fixed end-time. This paper examines the three explanations of late bidding in eBay auctions that survived the first scrutiny in Roth and Ockenfels (2002). There is no indication that late bidding could lead to collusive gains for bidders. Late bidding is a strategic response to the presence of bidders placing multiple bids. Experts protecting their private information are typically the last to bid, while collectors are often the first. As bidders gain familiarity with eBay rules, they tend to bid slightly earlier.

Download or read book Internet Marketplaces written by Christina Hultmark and published by Oxford University Press, USA. This book was released on 2002 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title provides an analysis of the business models that are being employed because of the increased use of online auctions and exchnages for business transactions, their legal structures, and the extent to which further work is still required to fill in the legal infrastructure.

Download or read book Getting Started in Internet Auctions written by Alan C. Elliott and published by Wiley. This book was released on 2000-04-19 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive Coverage Completely Up-to-Date Your complete guide to buying and selling at Internet auctions As millions of people worldwide have discovered, online auctions can be a fun, safe, and easy way to buy, sell, or trade virtually anything-from Pez dispensers to mobile homes, antiques to computers. But the world of Internet auctions is unlike any other marketplace, and finding and making the great deals you're hoping for can be a very tricky business, especially for newcomers. In this complete guide, expert Alan Elliott saves you the time and expense of learning the ins and outs of Internet auctions the hard way. He reviews all the best auction sites and, step-by-step, teaches you everything you need to know to safely and successfully participate both as a buyer and a seller. From finding an auction site to setting up and managing your own auctions, Elliott covers all the bases, including how to: * find the real online bargains * spot inferior merchandise * use safe, smart bidding practices * set limits and time your bids * conduct financial transactions online, safely and securely * avoid Internet scam artists * determine what is salable online and what isn't * find the best auction site for what you have to sell * correctly price your merchandise * successfully advertise and market your merchandise * make a living in Internet auctions For Internet auction updates and links to valuable auction resources, contact the Companion Web site at: www.alanelliott.com/auction.

Download or read book Best Practices for Online Procurement Auctions written by Parente, Diane H. and published by IGI Global. This book was released on 2007-12-31 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a systematic approach to the examination of online procurement auctions. Growth in online auctions reinforces the need for understanding the factors important in auctions and the caveats that both researchers and practitioners need to know in order to effectively study and use the auction tool.

Download or read book Bidding Strategies in Agent Based Continuous Double Auctions written by Huiye Ma and published by Springer Science & Business Media. This book was released on 2008-09-15 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a new bidding strategy for agents to adopt in continuous double auctions (CDAs) and proposes some generally used tools to enhance the performance of existing bidding strategies in CDAs. It is the first book to focus on CDAs where a limited amount of seller agents and buyer agents trade what they want. The superior performance of the new bidding strategy and the tools proposed by this book are illustrated through extensive experiments.