Home > Trade >		RSS
The Empirical Study of Bid Strategy in English Online Auction

Online auction, as a kind of important form of e-commerce, has already become a new trade mechanism used by consumers and sellers. Optimizing the bid strategy to every consumer in online auction is very valuable to win the items even at low
Submitted On: 04-01-2010 | Views:	Article Tools:

Online auction, as a kind of important form of e-commerce, has already become a new trade mechanism used by consumers and sellers. Optimizing the bid strategy to every consumer in online auction is very valuable to win the items even at lower price than his value. Of course, the research of the bid strategy in online auction has been the hotspot in recent year.We start from the traditional auction theory, recommending the basic conception, types and model, and then introduce the online auction model, course and optimization strategy. Especially, we analyze the opportunistic snip bid strategy in English online auction. The author makes empirical research using the data from www.taobao.com which include clothes and antique. We find that the phenomenon snip bid obviously exists at the ending minutes in online auction, and the snip intensity is dissimilar in different items: the snip intensity of antique items is stronger than clothes items. This result is the same as foreign researchers' based on the data from www.eaby.com.In the empirical research we choose the CSAPS function in the usage Matlab tool box to fit the curve of biding progress in English online auction, getting cube spline function curve namely the curve bring between bid price and auction time. This curve helps us to deeply analyze bid behavior and strategy in the progress of online auction. In this paper, author first step studies one mouthful price online auction, including a fixed one mouthful price, temporary one mouthful price, hold out for long time an one mouthful online auction with three kinds of online auction styles. Under the IPV Model (independent private value model), we analyze the customer bid balancing strategy of single product one mouthful the price in English online auction.

Article Source: http://latest-finance-articles.com/Trade/The-Empirical-Study-of-Bid-Strategy-in-English-Online-Auction-734.html

Like the Article? Then share it with others at popular websites below:

Recommended Articles from Trade Category: The Simulation Evaluation on Business Model of CNKI and the Method for Improvement 04/01/2010 The Research of the Construction of the Electronic Trading of the Gardening Market in Xuchang 04/01/2010 Development Strategy Research of Jinan Science and Technology Market 04/01/2010 Applications of Location and Layout Design in Yichun Wo-mart Supermarket 04/01/2010 A Study on Co-distribution Based on Property Circulation of Chain Business 04/01/2010 Institution Performance Appraisals about Liberalization of Trade in Services under the CEPA 04/01/2010 The Compared Research of Business Systems between Jin Merchant and Huizhou Merchant 04/01/2010 Tea Trade in Qing Dynasty 04/01/2010 A Study of Profit Models of Chain Convenience Stores Using 7-ELEVEn as Examples 04/01/2010 Study on Purchasing Management in Chain Company Based on Theory of Supply Chain 04/01/2010

Source