Online Auctions Efficiency: A Survey of eBay Auctions
Online auctions have become a pervasive transaction mech anism for e-commerce. As the largest online marketplace the world, eBay is an attractive case study that enables th study of online auctions utilizing data involving real peop and transactions. In this paper, we present a detailed investigation and ana ysis of multiple online auction properties including: con sumer surplus, sniping, bidding strategy and their cros relationships. Our goal is to evaluate the theoretical found tions of online auctions and discover patterns and behavio hidden due to the lack of real and extensive transaction dat Among our findings, we uncover an important correlatio among sniping and high surplus ratios, which implies th uncertainty of true value in a competitive environment. Th key issue is the wrong assumption that bidders valuation are independent from each other, which leads to ine±cien auctions. In order to address the ine±ciencies of current onlin formats we introduce a declining price auction model cu tomized for online transactions. Conceptually, this mod ought to deal with the complexities of competition in a online environment while maximizing social welfare.
Auction E±ciency Auction Theory Online Auctions
Hu Wenyan Alvaro Bolivar
eBay Research Labs 88 KeYuan Road Shanghai 201203, China eBay Research Labs 2145 Hamilton Avenue San Jose, CA 95125, USA
国际会议
第十七届国际万维网大会(the 17th International World Wide Web Conference)(WWW08)
北京
英文
2008-04-21（万方平台首次上网日期，不代表论文的发表时间）