Real-time Automatic Price Prediction for eBay Online Trading

نویسندگان

  • Ilya Raykhel
  • Dan Ventura
چکیده

We develop a system for attribute-based prediction of final (online) auction pricing, focusing on the eBay laptop category. The system implements a featureweighted k-NN algorithm, using evolutionary computation to determine feature weights, with prior trades used as training data. The resulting average prediction error is 16%. Mostly automatic trading using the system greatly reduces the time a reseller needs to spend on trading activities, since the bulk of market research is now done automatically with the help of the learned model. The result is a 562% increase in trading efficiency (measured as profit/hour).

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Functional PCA for Exploring Bidding Activity Times for Online Auctions

In the past decade the use of the internet has become a major part of most people’s daily lives. The large increase in internet activity has also sparked the growth of new industry, in particular, e-commerce. There are thousands of well-known e-commerce companies. Ebay is one of the most popular and well-known. Ebay is the world’s largest online auction house and plays a large part in the e-com...

متن کامل

Online Auctions: Pricing Bordeaux Wine on eBay

The popularity of online auctions is a relatively recent phenomenon. eBay, the leading online auctioneer, is one of the most popular websites and has become synonymous for trading online. Wine is a good well suited for online trading and there is a huge market for it on eBay's websites in France and Germany. Buying and selling Bordeaux reds is especially popular on eBay in Germany where about 2...

متن کامل

Predicting the End-Price of Online Auctions

Online auctions have become one of the fastest growing modes of onlinecommerce transactions. eBay has 94 million active members buying and selling goods at a staggering rate. These auctions are also producing large amounts of data that can be utilized to provide services to the buyers and sellers, market research, and product development. We collect historical auction data from eBay and use mac...

متن کامل

Bidding Behavior and Price Formation with competing Auctions: Evidence from eBay

Existing literatures consider on-line auctions as many independently running auctions and each bidder chooses only one auction. However, many substitutable goods are auctioned at the same time and bidders can bid several auctions at the same time. We examine a data set of eBay Pentium III 800 MHz CPU auctions to explore the bidding behavior and price formation for competing auctions. We also us...

متن کامل

The Effects of Auction Parameters on Price Dispersion and Bidder Entry on eBay: A Conditional Logit Analysis

This paper studies price dispersion and bidder entry in sequential online auctions of indistinguishable items, where goods and shipping costs are identical. Contrary to intuition and the “law of one price,” previous empirical analyses show large price swings among auctions of identical products. To study this phenomenon, this paper performs empirical analysis on a dataset of 3,164 sequential eB...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2009