ONLINE AUCTION EFFECTIVENESS: OPTIMAL SELLING STRATEGIES FOR ONLINE AUCTION MARKET
Pui‐Lai To, Chechen Liao, Yuping Liu, Chiao-Ying Chen
Abstract
Pui‐Lai To, Chechen Liao, Yuping Liu, Chiao-Ying Chen
Abstract
The introduction of internet auction has significantly widened the pool of consumers who participate in auctions and increased the number of companies attempting to sell their products in an auction format. Previous empirical research on auctions has focused almost exclusively on the behavior of professional bidders. In this study, we collect data on a large number of internet auctions to explore the outcome of the auction in a real marketplace. In particular, we focus on the characteristic of seller, auction parameter and the effect of supply and demand, and examine these impacts on auction effectiveness.
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The introduction of internet auction has significantly widened the pool of consumers who participate in auctions and increased the number of companies attempting to sell their products in an auction format. Previous empirical research on auctions has focused almost exclusively on the behavior of professional bidders. In this study, we collect data on a large number of internet auctions to explore the outcome of the auction in a real marketplace. In particular, we focus on the characteristic of seller, auction parameter and the effect of supply and demand, and examine these impacts on auction effectiveness.
Key concepts: Forward auction, Eauction, Reverse auction, Auction theory, Common value auction, Dutch auction, Business, Multiunit auction