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Visualizing online auctions
- Journal of Computational and Graphical Statistics
, 2005
"... Online auctions have been the subject of many empirical research efforts in the fields of economics and information systems. These research efforts are often based on analyzing data from websites such as eBay.com which provide public information about sequences of bids in closed auctions, typ-ically ..."
Abstract
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Cited by 36 (17 self)
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Online auctions have been the subject of many empirical research efforts in the fields of economics and information systems. These research efforts are often based on analyzing data from websites such as eBay.com which provide public information about sequences of bids in closed auctions, typ-ically in the form of tables on HTML pages. The existing literature on online auctions focuses on tools like summary statistics and more formal statistical methods such as regression models. How-ever, there is a clear void in this growing body of literature in developing appropriate visualization tools. This is quite surprising, given that the sheer amount of data that can be found on sites such as eBay.com is overwhelming and can often not be displayed informatively using standard statistical graphics. In this paper we introduce graphical methods for visualizing online auction data in ways that are informative and relevant to the types of research questions that are of interest. We start by using profile plots that reveal aspects of an auction such as bid values, bidding intensity, and bidder strategies. We then introduce the concept of statistical zooming (STAT-zoom) which can scale up to be used for visualizing large amounts of auctions. STAT-zoom adds the capability of looking at data summaries at various time scales interactively. Finally, we develop auction calen-dars and auction scene visualizations for viewing a set of many concurrent auctions. The different visualization methods are demonstrated using data on multiple auctions collected from eBay.com.
Modeling Dynamics in Online Auctions: A Modern Statistical Approach
"... In this work we propose a modern statistical approach to the analysis and modeling of dynamics in online auctions. Online auction data usually arrive in the form of a set of bids recorded over the duration of an auction. We propose the use of a modern statistical approach called functional data anal ..."
Abstract
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Cited by 13 (4 self)
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In this work we propose a modern statistical approach to the analysis and modeling of dynamics in online auctions. Online auction data usually arrive in the form of a set of bids recorded over the duration of an auction. We propose the use of a modern statistical approach called functional data analysis that preserves the entire temporal dimension in place of currently used methods that aggregate over time thereby losing important information. This enables us to investigate not only the price evolution that takes place during an auction, but also the dynamics of the price evolution. We show how functional data analysis can be combined with cluster analysis and regression-type models for data exploration and summarization, and for testing hypotheses about relationships between price formation and other relevant factors.
SHOULD WE EXPECT LESS PRICE RIGIDITY IN INTERNET-BASED SELLING?
, 2005
"... Price rigidity involves the observation of prices that do not change with the regularity predicted by standard economic theory. It is a topic of long-standing interest for firms, industries and the economy as a whole. As information technology (IT) changes the process by which strategic pricing deci ..."
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Price rigidity involves the observation of prices that do not change with the regularity predicted by standard economic theory. It is a topic of long-standing interest for firms, industries and the economy as a whole. As information technology (IT) changes the process by which strategic pricing decisions are made and implemented in business operations, there is a need to develop a more substantial managerial understanding of firm pricing in production process terms. In the 1990s, technology-driven pricing was largely the domain of the airlines, hotels and rental car companies, with the practice of revenue yield management. However, now it is possible for bricks-and-clicks firms, and even traditional retailers, to implement systems that permit significant adjustments to be made to prices in situations where menu costs previously made rapid price changes difficult to achieve in an economical way. So, we believe that the issue of price rigidity in the digital economy should be considered with a broader, more deeply insightful perspective. This paper draws upon theoretical perspectives that are largely new to the field of Information Systems (IS), but that offer rich opportunities for theory building and empirical research in settings that will be of high interdisciplinary interest. Such interdisciplinary studies,
http://www.rhul.ac.uk/mathematics/techreports E-BUSINESS INFORMATION SYSTEMS SECURITY DESIGN PARADIGM AND MODEL
, 2009
"... These doctoral studies were conducted under the supervision of Chris Mitchell. The work presented in this thesis is the result of original research carried out by myself, in collaboration with others, whilst enrolled in the Department of Mathematics as a candidate for the degree of Doctor of Philoso ..."
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These doctoral studies were conducted under the supervision of Chris Mitchell. The work presented in this thesis is the result of original research carried out by myself, in collaboration with others, whilst enrolled in the Department of Mathematics as a candidate for the degree of Doctor of Philosophy. This work has not been submitted for any other degree or award in any other university or educational establishment.
Professor of Marketing and Logistics Management
, 2004
"... Prior research shows that 9¢, 99¢, $9 and $99 in retail prices occur far more than expected. We investigate the extent to which these “’9 ’ price-endings ” occur in Internet-based selling, and explore what drives the observed variations. In particular, we explore theories based on customer perceptio ..."
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Prior research shows that 9¢, 99¢, $9 and $99 in retail prices occur far more than expected. We investigate the extent to which these “’9 ’ price-endings ” occur in Internet-based selling, and explore what drives the observed variations. In particular, we explore theories based on customer perceptions of store quality image and rational inattention to price-endings. To accomplish this, we specify and test an empirical discrete choice model for price-endings using more than 1.9 million daily observations on multiple categories of products sold by hundreds of Internet-based retailers. Our results show that a firm’s online reputation, its average price in a
STORE QUALITY IMAGE AND THE ‘RATIONAL INATTENTION HYPOTHESIS’: AN EMPIRICAL STUDY OF THE DRIVERS OF $9 AND 9 ¢ PRICE-ENDINGS AMONG
"... Prior research shows that 9¢, 99¢, $9 and $99 in retail prices occur far more than expected. We investigate the extent to which these “‘9 ’ price-endings ” occur in Internet-based selling, and explore what drives the observed variations. In particular, we explore theories based on customer perceptio ..."
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Prior research shows that 9¢, 99¢, $9 and $99 in retail prices occur far more than expected. We investigate the extent to which these “‘9 ’ price-endings ” occur in Internet-based selling, and explore what drives the observed variations. In particular, we explore theories based on customer perceptions of store quality image and rational inattention to price-endings. To accomplish this, we specify and test a discrete choice model for price-endings using more than 1.9 million daily observations on multiple categories of products sold by hundreds of Internetbased retailers. Our results show that a firm’s online reputation, its average price in a product
Managerial decision-making
"... Paradigm shift ted s in ed data mining and analytics support, there seems to be fundamental changes that rch questions we can ask, and the research methods we can apply. The contexts in-’ or dat mendo rks best forwhat ques-ata and can be used in esearch Assistant Pro- ..."
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Paradigm shift ted s in ed data mining and analytics support, there seems to be fundamental changes that rch questions we can ask, and the research methods we can apply. The contexts in-’ or dat mendo rks best forwhat ques-ata and can be used in esearch Assistant Pro-
