The study maps the bidding patterns of 1,051 completed English auctions from the eBay website to study their structural patterns. The overall pattern appears to be a cubic. People initially bid the price to 60– 70% of the final value. The price levels off only to take off near the end of the auction, when it reaches its final price. The second part of the study measures the effects of informati...

With the increasing role of electronic commerce in business applications, much attention is paid to online-auctions. As auctions become more and more popular in electronic commerce, agents face the problem of participating in multiple independent auctions simultaneously or in sequence. Decision making of agents becomes difficult when they have to buy bundles of goods. In this case the agents ha...

Online auction environments provide several sources of information that can be used by bidders to form their bids. One such information set that has been relatively understudied in the literature pertains to reference prices available to the bidder from other concurrent and comparable auctions. In this paper, we study how reference prices from such auctions affect bidding behavior on the focal ...

We analyse a regulatory change in the Japanese IPO market that created an abrupt shift from hybrid price-discriminatory auctions to bookbuilding. find bookbuilding leads significantly higher underpricing than auctions. Further, we evidence price accuracy tends be for The results hold under variety of OLS specifications and with regression discontinuity designs exploiting regulation. suggest int...

Many auction mechanisms, including rst and second-price ascending and sealed-bid auctions, have been proposed and analyzed in the economics literature. We compare the usefulness of di erent mechanisms for on-line auctions, focusing on the di erent costs of determining reservation prices, determining bids and communicating bids, and on whether the auctioneer is trusted. Di erent auction formats ...

Many auctions involve selling several distinct items simultaneously, where bidders can bid on the whole or any part of the lot. Such auctions are referred to as combinatorial auctions. Examples of such auctions include truck delivery routes, furniture, and FCC spectrum. Determining winners in such auctions is an NP-hard problem and significant research is being conducted in this area. However, ...

Shilling behaviors are one of the most serious fraud problems in online auctions, which make winning bidders have to pay more than what they should pay for auctioned items. In concurrent online auctions, where multiple auctions for the same type of items are running simultaneously, shilling behaviors can be even more severe because detecting, predicting and preventing such fraudulent behaviors ...

The use of auctions as a pricing mechanism has grown dramatically over the last few years. The introduction of electronic auctions has signi®cantly 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 profess...

We study how to coordinate a team of mobile robots to visit a number of given targets in partially unknown terrain. Robotics researchers have studied singleitem auctions (where robots bid on single targets) to perform this exploration task but these do not take synergies between the targets into account. We therefore design combinatorial auctions (where robots bid on bundles of targets), propos...

We study the effects of competition among intermediary brokers that run local upstream auctions and participate at a central auction as bidders on behalf of their buyers. More specifically, we focus on the result of the choice of different mechanisms for the intermediaries on their profit, the central auctioneer’s revenue and the buyers’ surplus as well as the social welfare of all players both...