Based on the Chinese IPO book building mechanism as the background, the paper chooses the market-oriented period (from November,2010 to April,2012) of the IPOs as the samples, and studies the relationship between the collusive behavior, institutional investors’ bidding behavior and underwriters’ pricing strategy(as well as the post-IPO performance). The results show that: Firstly, in the case o...

A bidding strategy commonly observed in Internet auctions, though not frequently in live auctions, is that of “jump-bidding,” or entering a bid larger than necessary to be a current high bidder. In this paper, we argue that the cost associated with entering on-line bids and the uncertainty concerning bidding competition -both of which distinguish Internet from live auctions -can explain this ph...

There has been recent interest in Internet-enabled markets for professional services. We investigate the characteristics of these markets by examining bidding behavior in the most active area of these early knowledge markets: the market for IT contractors. These markets are important both because they provide an early view of the effectiveness of on-line service markets and because they have a ...

The U.S. Mineral Management Service (MMS) uses auctions to allocate exploration and drilling rights for oil and gas on federal lands on the Outer Continental Shelf (OCS). The federal offshore leasing program began in 1954, and there have been few alterations in the auction mechanism. However, the environment in which firms bid in these auctions has experienced a number of substantial changes. O...

We propose an analytical framework for studying bidding behavior in online auctions. The framework focuses on three key dimensions: the multi-stage process, the types of value-signals employed at each phase, and the dynamics of bidding behavior whereby early choices impact subsequent bidding decisions. We outline a series of propositions relating to the auction entry decision, bidding decisions...

Designing efficient bidding strategies for agents participating in multiple, sequential auctions remains an important challenge for researchers in agentmediated electronic markets. The problem is particularly hard if the bidding agents have complementary (i.e. super-additive) utilities for the items being auctioned, such as is often the case in distributed transportation logistics. This paper s...

E-consumers face biggest challenge of opting for the best bidding strategies for competing in an environment of multiple and simultaneous online auctions for same or similar items. It becomes very complicated for the bidders to make decisions of selecting which auction to participate in, place single or multiple bids, early or late bidding and how much to bid. In this paper, we present the desi...

A strategy commonly observed in Internet auctions is that of “jump bidding,” or entering a bid larger than what is necessary to be a currently winning bidder. In this paper, we argue that the cost associated with entering online bids and the uncertainty about future entry—both of which distinguish Internet from live auctions—can explain this behavior. We present a simple theoretical model that ...

Internet auctions have recently gained widespread popularity and are one of the most successful forms of electronic commerce. We examine a dataset of eBay coin auctions to explore features of online bidding and selling behavior. We find that profit margins for bidders appear to be slim on average, that previous bidding experience does not play a significant role in observed bidding behavior and...

The choice of a bidding language is crucial in auction design in order to correctly capture bidder utilities. We propose a new bidding model for the Adwords auctions of search engine advertisement – decreasing valuation bids. This provides a richer language than the current model for advertisers to convey their preferences. Besides providing more expressivity, our bidding model has two addition...