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A virtual competition auction model for perishable products

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Abstract

Online auctions for perishable products have tremendous potentials. However, the current forms of online auctions do not take full advantages of information technology enabled online auctions, and are ineffective for online auctions for perishable products. This study proposes a virtual competition auction model for perishable products. In virtual competition auctions, the bidder is provided with auction historical data, and the bidder’s decision is represented by a demand curve that is composed of a series of bids. A preliminary laboratory experiment based on a prototype of virtual competition auction system is reported. The preliminary laboratory experiment result shows that the virtual competition auction model for perishable products is more effective than the ordinary open-cry auction model.

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Acknowledgement

The comments of the Editor and two anonymous reviewers have contributed significantly to the revision of the article. The second author is supported in part by Natural Sciences and Engineering Research Council of Canada (NSERC Grant 312423).

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Authors and Affiliations

  1. DIS department, University of Massachusetts Dartmouth, 285 Old Westport Rd., Dartmouth, MA, 02747, USA

    Shouhong Wang

  2. Sobey School of Business, Saint Mary’s University, Halifax, NS, B3H 3C3, Canada

    Hai Wang

Authors
  1. Shouhong Wang
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  2. Hai Wang
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Correspondence to Shouhong Wang.

Additional information

Responsible editor: Hans-Dieter Zimmermann

Appendix

Appendix

Table 1 Summary of experimental data
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Wang, S., Wang, H. A virtual competition auction model for perishable products. Electron Markets 21, 53–62 (2011). https://doi.org/10.1007/s12525-011-0049-z

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  • DOI: https://doi.org/10.1007/s12525-011-0049-z

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