haku: @author Wallenius, H. / yhteensä: 5
viite: 2 / 5
| Tekijä: | Häkämies, M. Teich, J.E. Wallenius, H. Wallenius, J. |
| Otsikko: | An experimental comparison of a traditional English clock auction and a Web-based auction in a multiple unit environment |
| Lehti: | Electronic markets
2003 : VOL. 13:3, p. 233-241 |
| Asiasana: | Auctions Internet |
| Vapaa asiasana: | WWW |
| Kieli: | eng |
| Tiivistelmä: | Online auctions have become increasingly popular over recent years. Four years ago there was an online auction system developed, where bidders were allowed to bid for multiple units of a good. This paper experimentally compares the performance of the English clock auction against this paper's web-based auction using traditional economists' criteria. The English clock auction, implemented offline, is an open-cry, uniform price auction, where bidders respond to prices by indicating desired quantity. In contrast, this paper's web-based auction allows (but does not initiate) some price discrimination. In the paper's experiments the two auction mechanisms, one implemented offline, the other online, were found to be (equally) highly efficient and generated approximately an equal amount of revenue for the seller/buyer. The logical next step is to replicate the comparison in field circumstances. It remains to be seen, but one can argue that many of the advantages of web-based systems do not show in laboratory circumstances. |
SCIMA