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Capturing the structure of Internet auctions: the ratio of winning bids to the total number of bids

Araki, Hiromichi and Matsubara, Shigeo (2009) Capturing the structure of Internet auctions: the ratio of winning bids to the total number of bids. In: Proceedings of the WebSci'09: Society On-Line, 18-20 March 2009, Athens, Greece. (In Press)

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Abstract

Internet auctions have become popular and have a significant role in the further development of electronic commerce. Capturing the structure of Internet auctions, however, has not been sufficiently attained. An important feature in Internet auction is the existence of micro-macro link. As a first step to analyze micro-macro link we investigate the process from the macro-level phenomena to the micro-level behaviors. We focus on bidders’ learning ability of the quoting prices and examine the real auction data in a certain period for the identical goods. To enable the analysis, we introduce the ratio of winning bids to the total number of bids (RWT). An interesting feature of RWT is that it pays attention to losing bids as well as winning bids. The results showed that the winners are superior in learning the quoting prices compared to the losers.

Item Type:Conference or Workshop Item (Poster)
Uncontrolled Keywords:auction, structure analysis
Subjects:Web Science Events > Web Science 2009
ID Code:216
Deposited By: W S T Administrator
Deposited On:24 Jan 2009 08:45
Last Modified:25 Oct 2011 16:42

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