Modeling online auctions. (English) Zbl 1198.91007

Jank, Wolfgang; Shmueli, Galit

Statitistic in Practice. Hoboken, NJ: John Wiley & Sons (ISBN 978-0-470-47565-2/hbk; 978-0-470-64260-3/ebook). xii, 319 p. (2010).

The volume offers a detailed survey of methods and run of online auctions by means of detailed analysis of empirical and statistical data. The presentation of that subject is divided into five chapters, where the first one is a brief presentation of the topic, and the following two chapters consist of verbal and graphical description, visualization and heuristic discussion of online auctions. The fourth chapter introduces a formal mathematical model of online auction data including price dynamics, informational characteristics of bidding, and time development of the auction procedure. The last chapter is devoted to the forecasting of the course of online auctions. The volume is completed by a rich bibliography and index.

Reviewer: Milan Mareš (Praha)

MSC:

91-02	Research exposition (monographs, survey articles) pertaining to game theory, economics, and finance
91B26	Auctions, bargaining, bidding and selling, and other market models

Keywords:

auction; online auction; price dynamics; auction information; bidding; competition; visualization

Software:

Matlab