9780470475652

Modeling Online Auctions

by ;
  • ISBN13:

    9780470475652

  • ISBN10:

    047047565X

  • Format: Hardcover
  • Copyright: 2010-07-13
  • Publisher: Wiley

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Summary

The new data challenges associated with online auctions motivate the need for clever statistical ideas and new statistical innovation in order to gain knowledge about bidders, sellers, prices, and a host of other questions of interest.In this book, the authors draw upon their experience of working with online auction data and introduce the reader to state-of-the-art statistical methodology for extracting new knowledge from online auction data.Rather than approach the topic from the traditional game-theoretic route, the authors treat the online auction mechanism as a new type of data generator, as well as use statistical and data mining methods to collect, explore, model, and forecast data that arises from online auction databases.Every effort is made to embellish cross-disciplinary fertilization between statistics, data mining, marketing, information systems, and economics and related fields.

Author Biography

Wolfgang Jank, PhD, is Associate Professor of Management Science and Statistics in the Robert H. Smith School of Business at the University of Maryland, where he is also Director of the Center for Complexity in Business. He has published over seventy articles on statistics and data mining in electronic commerce, marketing, information systems, and operations management. Dr. Jank is the coauthor of Statistical Methods in e-Commerce Research (Wiley). Galit Shmueli, PhD, is Associate Professor of Statistics and Director of the eMarkets Research Lab in the Robert H. Smith School of Business at the University of Maryland. Her research focuses on statistical strategy and data mining methods for scientific research and real-world applications. Dr. Shmueli has published over sixty journal articles on statistical and data mining methods related to online auctions and biosurveillance. She is the coauthor of Statistical Methods in e-Commerce Research and Data Mining for Business Intelligence: Concepts, Techniques, and Applications in Microsoft Office Excel with XLMiner, Second Edition, both published by Wiley.

Table of Contents

Prefacep. ix
Acknowledgmentsp. xi
Introductionp. 1
Online Auctions and Electronic Commercep. 3
Online Auctions and Statistical Challengesp. 4
A Statistical Approach to Online Auction Researchp. 6
The Structure of this Bookp. 6
Data and Code Availabilityp. 8
Obtaining Online Auction Datap. 9
Collecting Data from the Webp. 9
Web Data Collection and Statistical Samplingp. 18
Exploring Online Auction Datap. 31
Bid Histories: Bids versus "Current Price" Valuesp. 32
Integrating Bid History Data With Cross-Sectional Auction Informationp. 36
Visualizing Concurrent Auctionsp. 41
Exploring Price Evolution and Price Dynamicsp. 44
Combining Price Curves with Auction Information via Interactive Visualizationp. 57
Exploring Hierarchical Informationp. 60
Exploring Price Dynamics via Curve Clusteringp. 63
Exploring Distributional Assumptionsp. 72
Exploring Online Auctions: Future Research Directionsp. 94
Modeling Online Auction Datap. 96
Modeling Basics (Representing the Price Process)p. 97
Modeling The Relation Between Price Dynamics and Auction Informationp. 132
Modeling Auction Competitionp. 157
Modeling Bid and Bidder Arrivalsp. 189
Modeling Auction Networksp. 238
Forecasting Online Auctionsp. 253
Forecasting Individual Auctionsp. 254
Forecasting Competing Auctionsp. 279
Automated Bidding Decisionsp. 291
Bibliographyp. 301
Indexp. 313
Table of Contents provided by Ingram. All Rights Reserved.

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