In recent years, there has been an increased interest in the types of online auction. Yet many auctions with fixed-end times are experiencing “sniping” or submission of bids in the final minute of an auction. Late bidding deprives rivals of the ability of seeing one’s bid and undercutting it. Late bidding facilitates colludes or independent pricing well above that predicated by auction mechanis...

This paper designs a novel fuzzy competition and attitude based bidding strategy (FCA-Bid), in which the final best bid is calculated on the basis of the attitude of the bidders and the competition for the goods in the market. The estimation of attitude is based on the bidding item’s attribute assessment, which adapts the fuzzy sets technique to handle uncertainty of the bidding process as well...

Technological progress has led to electronic exchanges attracting a major part of transaction volume for standardized stocks. In the field of derivatives and bonds, electronic exchanges failed to prosper and so called over-the-counter (OTC) trading is predominant: possibly because multi-attribute assets are hard to trade in structured two-sided markets. The present paper aims at alleviating thi...

The success of online auctions has given buyers access to greater product diversity with potentially lower prices. It has provided sellers with access to large numbers of potential buyers and reduced transaction costs by enabling auctions to take place without regard to time or place. However it is difficult to spend more time period with system and closely monitor the auction until auction par...

This paper presents an experimental study of a mechanism that is commonly used to sell multiple heterogeneous goods. The novel feature of this procedure is that instead of selling each good in a separate auction, the seller executes a single auction in which buyers, who may be interested in completely different goods, compete for the right to choose a good. We provide experimental evidence that...

We study three alternative versions of the Vickrey (1961) auction when bidders have multi-unit demands: Vickrey’s original static sealed-bid auction and two dynamic implementations of the same auction: with and without dropout information reported during the auction (Ausubel, 1997). Although implemented by a weaker a weaker solution concept, behavior in the dynamic Vickrey auction with dropout ...

In this paper, we examine the price dynamics of on-line art auctions of modern Indian art using functional data analysis. The purpose here is not just to understand what determines the final prices of art objects, but also the price movement during the entire auction. We identify several factors, such as artist characteristics (established or emerging artist; prior sales history), art character...

Increasing popularity of online auctions and the associated frauds have drawn the attention of many researchers. It is found [hal most of the auction sites prefer English auction to other auction mechanisms. The ease of adopting multiple fake idenlities over the Internet nourishes shill bidding by fraudulent sellers in English auction. In this paper we derive an equilibrium bidding strategy (0 ...

The introduction of internet auction has significantly widened the pool of consumers who participate in auctions and increased the number of companies attempting to sell their products in an auction format. Previous empirical research on auctions has focused almost exclusively on the behavior of professional bidders. In this study, we collect data on a large number of internet auctions to explo...