scholarly journals Implementing Seller Agent in Multiple Online Auctions

2011 ◽  
pp. 119-136
Author(s):  
Patricia Anthony
Keyword(s):  
Online Auctions ◽  
Online Auction ◽  
Bidding Strategy ◽  
Reservation Price ◽  
Selling Price

Online auctions are becoming extremely popular because of the convenience that it offers to the consumers. Much work has been done in designing bidding strategy that can be utilized by bidders who want to participate in online auctions. However, very little work has been done on the seller’s strategy for online auctions. In any online auction, the final selling price of the item is unknown until the auction closes. This price is dependent on several factors such as the number of bidders participating in the auction, how much each bidder is willing to pay for the product, how many online auctions are selling the same item as well as the duration of each auction. Each item to be auctioned off has a reserved price set by the seller. Setting the reserved price too high for the item will result in the item not being sold and setting the price too low may result in profit reduction or even loss. Deciding on the reserved price of an item to be auctioned off is not a straightforward decision. This paper reports on a preliminary implementation of a seller agent that recommends a reserved price for a given item to be auctioned off by the seller. The seller agent’s objective is to suggest a reservation price that guarantees the sale of the item within a given period (as required by the seller) with a profit.

The effects of competitive reserve prices in online auctions

2018 ◽  
Vol 52 (7/8) ◽  
pp. 1439-1456 ◽  
Author(s):  
Jidong Han ◽  
Chun Qiu ◽  
Peter Popkowski Leszczyc
Keyword(s):  
Online Auctions ◽  
Online Auction ◽  
Selling Price ◽  
Reserve Price ◽  
Data Set ◽  
Content Type ◽  
Reserve Prices ◽  
Secret Reserve Price ◽  
The Impact ◽  
Price Strategies

PurposeThis paper aims to investigate how competition among online auction sellers influences the setting of both open and secret reserve prices, thereby affecting auction outcome.Design/methodology/approachUsing a data set collected from eBay consisting of 787 identical product auctions, three empirical models have been proposed. Model 1 simultaneously estimates the effects of auction competition on a seller’s own open and secret reserve price strategies; Model 2 estimates the effects of auction competition on bidder participation; and Model 3 estimates the direct and indirect effects of auction competition on selling price.FindingsCompetition among sellers is central to shaping sellers’ reserve price strategies. When there are more concurrent auctions for identical items, sellers tend to specify a low open reserve and are less likely to set a secret reserve. Sellers are strongly influenced by competitors’ reserve price strategies, and tend to follow competition. Finally, auction competition and competitive reserve price strategies influence both bidder entry and selling prices.Practical implicationsThis study has important implications for both sellers and bidders. It highlights the importance for sellers to adapt their reserve price strategies in light of their competitors’ reserve price strategies and offers implications for bidders regarding auction selection. An auction with low starting bid does not necessarily lead to a lower selling price as it attracts more bidders.Originality/valueThis paper focuses on competition among auction sellers, whereas previous literature has focused on competition among bidders. This paper is the first to study the impact of competing reserve prices in auctions.

scholarly journals The Performance of Grey System Agent and ANN Agent in Predicting Closing Prices for Online Auctions

2011 ◽  
Vol 3 (4) ◽  
pp. 37-56
Author(s):  
Deborah Lim ◽  
Patricia Anthony ◽  
Chong Mun Ho
Keyword(s):  
Online Auctions ◽  
Back Propagation ◽  
Grey System Theory ◽  
Online Auction ◽  
Reservation Price ◽  
Grey System ◽  
Feed Forward Back Propagation ◽  
Closing Price ◽  
Propagation Prediction ◽  
Bidding Process

The introduction of online auction has resulted in a rich collection of problems and issues especially in the bidding process. During the bidding process, bidders have to monitor multiple auction houses, pick from the many auctions to participate in and make the right bid. If bidders are able to predict the closing price for each auction, then they are able to make a better decision making on the time, place and the amount they can bid for an item. However, predicting closing price for an auction is not easy since it is dependent on many factors such as the behavior of each bidder, the number of the bidders participating in that auction as well as each bidder’s reservation price. This paper reports on the development of a predictor agent that utilizes Grey System Theory GM (1, 1) to predict the online auction closing price in order to maximize the bidder’s profit. The performance of this agent is compared with an Artificial Neural Network Predictor Agent (using Feed-Forward Back-Propagation Prediction Model). The effectiveness of these two agents is evaluated in a simulated auction environment as well as using real eBay auction’s data.

scholarly journals Reputation and Internet Auctions: eBay and Beyond

2004 ◽  
Vol 26 (1) ◽  
Author(s):  
Chris Snijders ◽  
Richard Zijdeman
Keyword(s):  
Online Auctions ◽  
Online Auction ◽  
Opportunistic Behavior ◽  
Internet Auctions ◽  
Reputation Mechanisms

AbstractEach day, a countless number of items is sold through online auction sites such as eBay and Ricardo. Though abuse is being reported more and more, transactions seem to be relatively hassle free. A possible explanation for this phenomenon is that the sites’ reputation mechanisms prevent opportunistic behavior. To analyze this issue, we first summarize and extend the mechanisms that affect the probability of sale of an item and its price. We then try to replicate the results as found in four recent papers on online auctions. Our analyses reveal that (1) it makes sense to differentiate between ‘power sellers’ and the less regular users, (2) there are variables that have an effect on sales that are often not controlled for, (3) one should carefully consider how reputation is operationalized, ( 4) neglecting heteroscedastidty in the data can have serious consequences, and (5) there is some support indicating that effects differ across auction sites.

scholarly journals Exploring Sellers' Experiences in the C2C Online Auction Environment

2021 ◽  
Author(s):  
◽  
Mai Anh Nguyen
Keyword(s):  
Learning Process ◽  
Online Auctions ◽  
Distribution Channel ◽  
Market Model ◽  
Online Auction ◽  
Sources Of Information ◽  
Alternative Source ◽  
Wide Range ◽  
Flea Markets ◽  
Buying Behaviour

<p>Online auction websites are becoming increasingly important as an intermediary for both sellers and buyers. They offer consumers an alternative source of goods to those sold at retail stores and other second-hand traditional consumer-to-consumer (C2C) channels, such as garage sales or flea markets. They also represent a new market model which incorporates a new distribution channel and a new means of establishing prices. Some researchers predict that retailers are now facing a new competition and the potential for declining sales as a result of the cannibalisation effect of the C2C online auction market. Noticeably, although much research has been carried out in an attempt to understand online auctions in relation to buying behaviour, little effort has been made to investigate the dynamic nature of individual sellers, in particular C2C sellers, in the online auction environment. Therefore, this study is aimed at filling in the gaps by exploring the sellers' behaviour and experiences in the C2C online auction environment. Its objectives are: (1) to explore the learning process that individual sellers go through in the C2C online auction environment; and (2) to find out what skills and techniques are commonly used by sellers and how these skills have been applied when marketing their products in the online auction environment. This study used a qualitative method, and a market-oriented ethnography was adopted. Data was collected through semi-structured in-depth interviews with sellers on TradeMe and from a wide range of archival documents. Nineteen sellers were recruited to participate into this study. Consequently, a learning model has been built, based on the consumer socialisation model, to explain the learning process of sellers as they become experienced in the C2C online auction environment. The findings from this study highlighted that sellers went through a learning process to become more experienced in online auctions. Moreover, different learning methods occurred at different stages of the learning process, including social interaction, observing and imitating, rewards and punishments, and other sources of information. This study also demonstrated the fact that sellers both implicitly and explicitly perceived the importance of marketing strategies and tactics and had extensively applied them. Several implications and recommendations arise from this study, including the need for more in-depth research on sellers' behaviour and experiences, using a longitudinal approach. Additionally, it is recommended that TradeMe should continue to improve their auction site in order to attract more sellers which, in turn, will lead to a greater number of buyers.</p>

scholarly journals Weekly bidding strategy and selling price determination for a energy internet zone

2021 ◽  
Vol 7 ◽  
pp. 218-223
Author(s):  
Yangyang Liu ◽  
Jiangxin Zhou ◽  
Renjie Dai ◽  
Qian Lou ◽  
Feng Yu
Keyword(s):  
Bidding Strategy ◽  
Selling Price ◽  
Price Determination ◽  
Energy Internet

scholarly journals The Role of Signals in Online Auction Purchase Decisions

2015 ◽  
Vol 15 (1) ◽  
pp. 53-68 ◽  
Author(s):  
Jacek Cypryjański ◽  
Aleksandra Grzesiuk
Keyword(s):  
Perceived Risk ◽  
Purchase Intention ◽  
Rational Choice Theory ◽  
Choice Theory ◽  
Online Auctions ◽  
Visual Signals ◽  
Online Auction ◽  
Empirical Prediction ◽  
Managerial Implications ◽  
Seller Reputation

Abstract There is a growing interest in behavioural economics contradicting the empirical prediction of rational choice theory once applied to online auctions. The issue is of particular relevance due to the large use of online auctions and the anticipated growth in the future. Online auctions combine the conventional auction model with information technology. However, information asymmetry within such auctions causes risks and uncertainties that influence consumer purchase intentions. The research investigates online consumers’ behaviour. The Authors suggest that due to the high perceived risk of the online buying process consumers are prompted to use cues of seller’ reputation. In a series of six experiments conducted via the auction site Allegro.pl in Poland a number of signals from auction web pages has been manipulated to influence purchase intention. The results suggest that several signals can be used to stimulate online customers’ behaviour. The results of these experiments indicate that buyers are more susceptible to the influence of “visual” signals than signals that require greater involvement of the buyer (to read information). The conducted experiments contribute to a more comprehensive understanding of online auction users’ behaviour. And finally it provides some managerial implications to increase online auction effectiveness from the seller’s perspective.

A Model for Monitoring and Enforcing Online Auction Ethics

2008 ◽  
pp. 4000-4013
Author(s):  
Shouhong Wang ◽  
Diana Kao
Keyword(s):  
Information System ◽  
Information Systems ◽  
Current Literature ◽  
Code Of Ethics ◽  
Online Auctions ◽  
Ethical Conduct ◽  
Online Auction ◽  
Face To Face ◽  
The Face ◽  
Important Form

The online auction has become an important form of e-commerce. Although using a different mode for conducting auction activities, online auctions should abide by the same code of ethics outlined in the face-to-face auction environment. Yet, ethics-related issues for online auctions have not been fully discussed in the current literature. The unique features of online auctions present an opportunity to address how ethical conduct could be supported, monitored, and enforced in an online auction environment. With technology being the backbone of the online auction, information systems appear to be a useful tool in facilitating ethics enforcement. This article summarizes ethics-related issues that are particularly relevant in online auctions, and recommends a code of ethics that could be applied to online auctions. Based on this set of ethics, this article proposes a model for an information system that will support and enhance ethical conduct in an online auction environment.

Bundling Decisions for Selling Multiple Items in Online Auctions

2021 ◽  
Author(s):  
Yeu-Shiang Huang ◽  
Min-Sheng Yang ◽  
Jyh-Wen Ho
Keyword(s):  
Online Auctions ◽  
Online Auction ◽  
The Internet ◽  
Ordinary People ◽  
Equilibrium Solutions ◽  
Bidding Strategies ◽  
Base Price ◽  
Bidding Price ◽  
Limited Supply ◽  
Use Of The Internet

Fueled by the widespread use of the internet, more and more ordinary people have now become merchandise sellers who sell their own possessions, such as antique collections and limited souvenirs, to buyers who are interested in such goods via online auctions. This study examines the decision making related to the bidding strategies used in online auctions by both sellers and buyers. When selling goods for which there is a limited supply, sellers consider whether to sell the single homogenous items in multiple, simultaneous auctions or all the items in a single auction. Moreover, when selling heterogeneous but associated goods, sellers may decide to bundle the items for sale or not with an aim of increasing the potential buyers’ willingness to make a purchase. We investigate the effects that various factors related to the bidding strategies used in online auctions, such as the base price and duration of the auction determined by the seller and the bidding price decided by the buyer, have on the seller’s profit, and the utilities of both parties are considered to derive the equilibrium solutions. This study contributes to the literature by proposing an online auction framework that focuses more on individual sellers selling a limited quantity of items with an aim to establish a favorable online auction for both sellers and buyers and earn more profits for sellers. The results show that the base prices and direct purchase prices should be unestablished to achieve the most attractive characteristics of online auctions, which would encourage more buyers to freely place bids. As a result, the bidding items would have more chances to be eventually obtained by the buyer who places the highest bid, which, thus, maximizes the seller’s profit.

scholarly journals Online Auction System

2021 ◽  
Vol 10 (02) ◽  
pp. 289-296
Author(s):  
S. Kokila ◽  
J. AbalinLuther ◽  
T. Marivijayakumar
Keyword(s):  
Management System ◽  
Online Auctions ◽  
Online Auction ◽  
Web Based

Online auctions are now an immensely popular component of the electronic marketplace.Online Auction management system is a web based application which will help users to buy or sell item.This application will allow users to post their products for auction; bidder can register and can bid for any available product around their location.It is developed with the objective of making the system reliable, easier and fast and to sell or order the products on the website from our house.The online auction system is based on the concept where a product is valued for the highest price.In most online auctions, the products listed for an auction are located away from the bidders location.In our auction system, the bidders or buyers can view the products in auction process which is located around his surroundings.So that the bidder or buyer can participate in auction for his nearby products.

Online auctions as a research tool: A field experiment on ethnic discrimination

2003 ◽  
Vol 62 (2) ◽  
pp. 139-145 ◽  
Author(s):  
Michael Shohat ◽  
Jochen Musch
Keyword(s):  
Field Experiment ◽  
Field Experiments ◽  
Online Auctions ◽  
Ethnic Discrimination ◽  
Research Tool ◽  
New Method ◽  
Online Auction ◽  
Turkish Origin

It is argued that online auctions offer a promising new platform for conducting field experiments in various areas of psychology. Both advantages and problems associated with the new method are discussed. To demonstrate its feasibility, a field experiment on ethnic discrimination was conducted. In an online auction, user names identified two sellers as being either of German or Turkish origin. Parallel sets of DVD movie discs were offered by both sellers. Contrary to previous research showing considerable discrimination against members of the Turkish minority in everyday situations, seller ethnicity had no effect on sale prices and number of bidders. However, auctions conducted under the German user name received their winning bids earlier than those run under the Turkish user name.

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