Analysis and Design of Business-to-Consumer Online Auctions
Management Science
Design science in information systems research
MIS Quarterly
Exploring auction databases through interactive visualization
Decision Support Systems
Applying experimental online auctions in marketing research for multi-channel firms
Expert Systems with Applications: An International Journal
Understanding effects of seller's and bidder's characteristics on Internet auction applications
Expert Systems with Applications: An International Journal
Adaptive Adjustment of Starting Price for Agents in Continuous Double Auctions
PRIMA '09 Proceedings of the 12th International Conference on Principles of Practice in Multi-Agent Systems
The Impact of Online Auction Duration
Decision Analysis
Adaptive Auction Mechanism Design and the Incorporation of Prior Knowledge
INFORMS Journal on Computing
Managing information diffusion in Name-Your-Own-Price auctions
Decision Support Systems
An interactive approach for multi-attribute auctions
Decision Support Systems
An Automated and Data-Driven Bidding Strategy for Online Auctions
INFORMS Journal on Computing
Predictive analytics in information systems research
MIS Quarterly
A stickiness coefficient for longitudinal data
Computational Statistics & Data Analysis
An Automated and Data-Driven Bidding Strategy for Online Auctions
INFORMS Journal on Computing
Estimating intermediate price transitions in online auctions
Applied Stochastic Models in Business and Industry
Seller heterogeneity in electronic marketplaces: A study of new and experienced sellers in eBay
Decision Support Systems
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This research uses functional data modeling to study the price formation process in online auctions. It conceptualizes the price evolution and its first and second derivatives (velocity and acceleration respectively) as the primary objects of interest. Together these three functional objects permit us to talk about the dynamics of an auction, and how the influence of different factors vary throughout the auction. For instance, we find that the incremental impact of an additional bidder's arrival on the rate of price increase is smaller towards the end of the auction. Our analysis suggests that ''stakes'' do matter and that the rate of price increase is faster for more expensive items, especially at the start and the end of an auction. We observe that higher seller ratings (which correlate with experience) positively influence the price dynamics, but the effect is weaker in auctions with longer durations. Interestingly, we find that the price level is negatively related to auction duration when the seller has low rating whereas in auctions with high-rated sellers longer auctions achieve higher price levels throughout the auction, and especially at the start and end. Our methodological contributions include the introduction of functional data analysis as a useful toolkit for exploring the structural characteristics of electronic markets.