Online Auctions: A Behavioral Study Essay

marketplace through Ebay and similar online websites(Gamble 2011, p.287). These forces are being contested by the industry’s

Dembosky, A. (2012). Ebay moves beyond its dotcom roots. Available:http://www.ft.com/cms/s/0/df3723ca-1773-11e2-8cbe-00144feabdc0.html#axzz2EbzDqb5Y. Last accessed 10th Dec 2012

​New entrants must also consider how well existing companies have mastered the art of converting combining customer and third party seller data together, and converting it into useful information for future customers. Customers are able to see previous customer reviews and seller ratings without even meeting the seller. The transparency of sellers, provide customers with the comfort of knowing what type of seller they are dealing with before a transaction even occurs. New entrants to the industry would not be able to provide potential customers with the same transparency seller transparency that an existing seller would be able to (eBay, 2010).

Although we were able to determine about the final price of online auctions with neural networks, and these networks do not provide information on the characteristics of auctions dominant. For this reason, it is necessary to analyze the data in detail with the way the decision tree in order

Clemons and Joshua S. Wilson. Both are in the faculty at the Wharton School of the University of Pennsylvania. Specifically, Clemons is a professor of operations and information management. His education includes an S.B. in physics from MIT, an M.S. and a Ph.D. in operations research from Cornell University (Clemons & Wilson, 2015). For the past 30 years, his research has revolved around the systematic study of the transformational effects of information on the strategy and practice of business (Clemons & Wilson, 2015). Clemons was also among the first scholars to do studies on online global securities trading, business process outsourcing and the effect of information on product proliferation and the transformation of consumer behavior in these new marketplaces (Clemons & Wilson, 2015). More recently, he has been studying privacy and the challenges of applying current antitrust laws to online business models (Clemons & Wilson, 2015). The second author is Joshua Wilson who is a research coordinator for Eric Clemons in the Department of Operations and Information Management at the Wharton School (Clemons & Wilson, 2015). His research and teaching interests are made up of information economics, strategic uses of information systems, online privacy and the analysis of mandatory participation third-party payer markets (Clemons & Wilson, 2015). Also, he received his B.A. in philosophy, politics and economics from the University of

Procurement by public entities is guided by primary law principles of transparency, equal treatment and non-discrimination, procurement laws sets up an extensive legal framework regarding the procurement of work, supply and service contracts. There are two main reasons for the use of specific procedures i.e. why contracting authorities do not just negotiate or simply buy from the closest supplier. First, it provides for more public accountability and therefore less cases of corruption practices. Additionally, tendering procedures aim to ensure the best value for money by making it necessary for suppliers to act highly competitive. As a result, market mechanisms will help in facilitating the best possible practices. In situations where market mechanisms are not effective, tender procedures might lose their effectiveness as well. If for example there is lack of competition due to certain complexities or as a result of lower bidder interest, negotiations with just one or two suppliers may be the most efficient manner to handle the process. Therefore, we discuss the inherent advantages and disadvantages of sealed bidding and contracting by negotiation as procedural frameworks for tendering.

• This section consists of questions with serial number 1 - 5. • Answer all questions. • Marks are indicated against each question.

First use of reverse auctions assisted by Laura Henning, business consultant for Bothe US operations

It provides both organizations and consumers, with endless options to choose from, for various transactions. Online commerce has many advantages when compared to regular shopping. The most fundamental advantage is the convenience.

Each year online auction fraud is one of the most commonly reported cases of Internet fraud reported to the Federal Trade Commission. Advances in information technologies enable the creation and success of business models such as Internet auctions. There are a variety of auction frauds, the five most common methods of Internet Auction fraud include bid shilling, bid shielding, non-delivery of merchandise, non-delivery of payment, and product authenticity. This paper will expound on the five most common Internet auction frauds along with examining and performing a literature review of prior empirical studies on Internet auction fraud.

The idea behind this study is of great significance because e-commerce (online shopping) has grown tremendously since the turn of the century. It has shaped the way people do shopping for the most part.

2. David Lucking-Reiley. (2000), “Auctions on the internet: What’s being auctioned and How?”, Journal of Industrial Economics, Vol XLIII, No.3.

While auctions are appealing in theory, the challenges of auction design in practice are insurmountable?

In our study we hope to provide further evidence that the problem of internet auction fraud exists.

Online shopping is almost to synonymous to customary shopping through brick and mortar stores. As indicated by UCLA Center for Communication Policy, online shopping has been rising as a standout among the most famous web exercises, marginally behind e-mailing and internet surfing and in addition surpasses online entertainment search and online news. Online shopping conduct (additionally called web purchasing conduct and Internet shopping/purchasing conduct) implies to the procedure of buying merchandise/goods or services by means of the Internet. In a standard online shopping procedure, potential customer’s see/feel/sense a necessity for some good or service and they approach to online shopping to search about the product/service and make a purchase decision to gratify the need. In some cases, instead of looking for intentionally, once in a while potential customers are pulled in by information about merchandise or services joined with the felt need. They then evaluate decisions and pick the specific alternative that best fits their criteria for meeting the obliged need. Finally, the purchase is made and post-purchase services are given. In this term paper I explore the various attitudes, behaviors and traits exhibited by consumers during this online purchase decision, factors which facilitate and influence their decision making. Online shopping behavior here also refers to consumers’ psychological state and intent in terms of making purchases on the Internet