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Modeling Online Art Auction Dynamics Using Functional Data Analysis, Karempudi Srinivas Reddy, Mayukh Dass
Modeling Online Art Auction Dynamics Using Functional Data Analysis, Karempudi Srinivas Reddy, Mayukh Dass
Research Collection Lee Kong Chian School Of Business
In this paper, we examine the price dynamics of on-line art auctions of modern Indian art using functional data analysis. The purpose here is not just to understand what determines the final prices of art objects, but also the price movement during the entire auction. We identify several factors, such as artist characteristics (established or emerging artist; prior sales history), art characteristics (size; painting medium—canvas or paper), competition characteristics (current number of bidders; current number of bids) and auction design characteristics (opening bid; position of the lot in the auction), that explain the dynamics of price movement in an on-line …
The Role Of European Governments In The Digital Economy, Arnoud Cyriel Leo De Meyer
The Role Of European Governments In The Digital Economy, Arnoud Cyriel Leo De Meyer
Research Collection Lee Kong Chian School Of Business
What is the role of government in the digital economy? It is not our intention to go into an in-depth ideological debate on whether governments should intervene in the business sector. We will try to adopt a pragmatic approach and explore what already happens in practice. It is up to the reader to make a judgment to what extent the governments should be involved in the ICT sector. There is enough indication that, due to network externality effects, governments need to take on an active role in stimulating an e-environment to jump-start the move toward a higher level of e-readiness.In …