Emerging behavior in electronic bidding

Title:
Emerging behavior in electronic bidding
Creator:
Yang, I. (Author)
Jeong, H. (Author)
Kahng, B. (Author)
Barabási, A.-L. (Author)
Language:
English
Publisher:
The American Physical Society, July 01, 2003
Type of resource:
Text
Genre:
Articles
Format:
electronic
Digital origin:
born digital
Abstract/Description:
We characterize the statistical properties of a large number of agents on two major online auction sites. The measurements indicate that the total number of bids placed in a single category and the number of distinct auctions frequented by a given agent follow power-law distributions, implying that a few agents are responsible for a significant fraction of the total bidding activity on the online market. We find that these agents exert an unproportional influence on the final price of the auctioned items. This domination of online auctions by an unusually active minority may be a generic feature of all online mercantile processes.
Comments:
Originally published in Physical Review E 68(1), 2003. doi:10.1103/PhysRevE.68.016102
Subjects and keywords:
Internet auctions
online auctions
power-law behavior
Physics
Permanent Link:
http://hdl.handle.net/2047/d20000687

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