Modeling Online Auctions

by Wolfgang Jank (Univ. of Maryland ); Galit Shmueli (Univ. of Maryland )

• ISBN13: 9780470642597
• ISBN10: 0470642599
• Format: eBook
• Copyright: 2010-05-01
• Publisher: Wiley

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.

Table of Contents

Preface

Acknowledgments

Introduction

Online Auctions and Electronic Commerce

Online Auctions and Statistical Challenges

A Statistical Approach to Online Auction Research

The Structure of this Book

Data and Code Availability

Obtaining Online Auction Data

Collecting Data from the Web

Web Data Collection and Statistical Sampling

Exploring Online Auction Data

Bid Histories: Bids versus "Current Price" Values

Integrating Bid History Data With Cross-Sectional Auction Information

Visualizing Concurrent Auctions

Exploring Price Evolution and Price Dynamics

Combining Price Curves with Auction Information via Interactive Visualization

Exploring Hierarchical Information

Exploring Price Dynamics via Curve Clustering

Exploring Distributional Assumptions

Exploring Online Auctions: Future Research Directions

Modeling Online Auction Data

Modeling Basics (Representing the Price Process)

Modeling The Relation Between Price Dynamics and Auction Information

Modeling Auction Competition

Modeling Bid and Bidder Arrivals

Modeling Auction Networks

Forecasting Online Auctions

Forecasting Individual Auctions

Forecasting Competing Auctions

Automated Bidding Decisions

Bibliography

Index

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