Abstract
Recent advances in client-server, web-server and networking technology have made it possible to hold auctions over the Internet. The popularity of such auctions has grown very rapidly in the last few years, giving a new impetus to the study and analysis of auctions. Apart from technological problems, there are a variety of implementational, economic, and behavioral aspects that need to be studied. In this paper we describe a few representative issues, and outline promising quantitative and computer-based approaches that can lead to solutions. The three issues we examine are timed bids, forecasting of final bid values in incomplete auctions, and last-minute bidding. These and other related features of Internet auctions could have a major impact in the near future on the volume of business transactions over the Internet.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Bapna, R.: When snipers become predators: Can mechanism design save Online auctions? Communications of the ACM (August 2003) forthcoming downloaded from http://www.sba.uconn.edu/users/rbapna/research.htm
Bapna, R., Goes, P., Gupta, A.: Analysis and design of business-to consumer Online auctions. Management Science 49(1), 85–101 (2003)
Cassady, R.: Auctions and Auctioneering. University of California Press, Berkeley (1967)
Klemperer, P.D.: Auction theory: A guide to literature. Journal of Economic Surveys 13(3), 227–286 (1999)
Krishna, V.: Auction Theory. Academic Press, San Diego (2002)
Roth, A.E., Ockenfels, A.: Last minute bidding and the rules for ending Second-Price auctions: Evidence from eBay and Amazon auctions on the Internet. American Economic Review 92(4), 1093–1103 (2001)
Rothkopf, M.H., Harstad, R.M.: On the role of discrete bid levels in Oral auctions. European Journal of Operations Research 74, 572–581 (1994)
Saroop, A., Bagchi, A.: Decision support system for Timed bids in Internet auctions. In: Proc. WITS-2000, Tenth Annual Workshop on Information Technology and Systems, Brisbane, Australia, pp. 229–234 (2000)
Saroop, A., Bagchi, A.: Expected revenue in Internet auctions in the presence of Timed bids. In: Proc. WITS-2001, Eleventh Annual Workshop on Information Technology and Systems, New Orleans, USA, pp. 151–156 (2001)
Saroop, A., Bagchi, A.: Artificial Neural Networks for predicting final prices in eBay auctions. In: Proc. WITS-2002, Twelfth Annual Workshop on Information Technology and Systems, Barcelona, Spain (2002)
Saroop, A., Bagchi, A.: Sniping in eBay auctions: A data driven analysis (2003) (in preparation)
Vickrey, W.: Counterspeculation, auctions, and competitive sealed tenders. Journal of Finance 41, 8–37 (1961)
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2003 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Bagchi, A., Saroop, A. (2003). Internet Auctions: Some Issues and Problems. In: Das, S.R., Das, S.K. (eds) Distributed Computing - IWDC 2003. IWDC 2003. Lecture Notes in Computer Science, vol 2918. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-24604-6_11
Download citation
DOI: https://doi.org/10.1007/978-3-540-24604-6_11
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-20745-0
Online ISBN: 978-3-540-24604-6
eBook Packages: Springer Book Archive