STATISTICAL PROPERTIES OF ONLINE AUCTIONS

Alireza Namazi () and Andreas Schadschneider ()
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Alireza Namazi: Institut für Theoretische Physik, Universität zu Köln, 50937 Köln, Germany
Andreas Schadschneider: Institut für Theoretische Physik, Universität zu Köln, 50937 Köln, Germany

International Journal of Modern Physics C (IJMPC), 2006, vol. 17, issue 10, 1485-1493

Abstract: We characterize the statistical properties of a large number of online auctions run on eBay. Both stationary and dynamic properties, like distributions of prices, number of bids etc., as well as relations between these quantities are studied. The analysis of the data reveals surprisingly simple distributions and relations, typically of power-law form. Based on these findings we introduce a simple method to identify suspicious auctions that could be influenced by a form of fraud known as shill bidding. Furthermore the influence of bidding strategies is discussed. The results indicate that the observed behavior is related to a mixture of agents using a variety of strategies.

Keywords: Complex systems; emergent behavior; socio-economic systems; auctions (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

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DOI: 10.1142/S012918310600993X

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