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Full-Text Articles in Business
A Network Bidder Behavior Model In Online Auctions: A Case Of Fine Art Auctions, Mayukh Dass, Srinivas K. Reddy, Dawn Iacobucci
A Network Bidder Behavior Model In Online Auctions: A Case Of Fine Art Auctions, Mayukh Dass, Srinivas K. Reddy, Dawn Iacobucci
Research Collection Lee Kong Chian School Of Business
The marketing literature provides a solid understanding of auctions regarding final sales prices and many aspects of the processes that unfold to result in those outcomes. This research complements those perspectives by first presenting a new bidder behavior model that shows the role of emergent network ties among bidders on the auction outcome. Dyadic ties are identified as the bid and counter-bid patterns of interactions between bidders that unfold throughout the duration of an auction. These structures are modeled using network analyses, which enables: (1) a richer understanding of detailed auction processes, both within auctions and across auctions of multiple …
Social Networks Among Auction Bidders: The Role Of Key Bidders And Structural Properties On Auction Prices, Mayukh Dass, Srinivas K. Reddy, Dawn Iacobucci
Social Networks Among Auction Bidders: The Role Of Key Bidders And Structural Properties On Auction Prices, Mayukh Dass, Srinivas K. Reddy, Dawn Iacobucci
Research Collection Lee Kong Chian School Of Business
Auctions have been studied extensively as an economic marketplace. The economist’s focus is on modeling final sales prices, but the processes that give rise to those outcomes are rarely studied in great detail. This research is intended to provide that complementary perspective. We show how the interactions between bidders in an auction unfold in a dynamic pattern of bids and counter-bids, and thereby over the duration of an auction, create a network structure. The auction network contributes significantly to models of price dynamics and the network predicts final sales prices better than economic (non-network) indicators alone. In addition, network analyses …