Insights and analyses of online auctions
Communications of the ACM
A theoretical and empirical investigation of multi-item on-line auctions
Information Technology and Management
Costly Bidding in Online Markets for IT Services
Management Science
Revenue Maximising Adaptive Auctioneer Agent
PRIMA '08 Proceedings of the 11th Pacific Rim International Conference on Multi-Agents: Intelligent Agents and Multi-Agent Systems
Analysing bidder performance in randomised and fixed-deadline automated auctions
KES-AMSTA'10 Proceedings of the 4th KES international conference on Agent and multi-agent systems: technologies and applications, Part II
Design of online auctions: Proxy versus non-proxy settings
Decision Support Systems
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This paper examines the impact of sellers' choice of auction parameters on the level of their revenues using data from Yahoo.com's Playstation 2 system auctions. Our study specifically highlights the impact of the ending rule. We introduce a new variable called Winning Bid Ratio (WBR), and use it as a proxy for seller revenues. WBR is the ratio of the winning bid of an auction to the buy price offered by the seller. We find that choosing a high bid increment and including a shipping price decreases the WBR. Alternatively, lower number of bids and choosing a shorter auction length have a positive effect on the WBR. On the whole, the ending rule has a negative effect on the WBR, which is in accord with the theoretical predictions in the literature. However, we also find variations in the results for the effect of ending rule when we divide the data into two groups consisting of high and low-value auctions.