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The research uses flower auction data from KIFA to study the price formation process in Dutch auctions. Using ARIMA model, we find that the auction prices are highly correlated and the prices follow an AR(1, 0, 0) process with coefficient 0.583. Based on it, we construct multiple linear regression equations and analyze the effect of some factors on the auction prices. The result shows that the average...
This paper studies the bidding behavior and the expected profits in the pay-per-bid auctions. By collecting auction data on bidxi.com, we make the two-step cluster analysis to divide bidders into irrational bidders and rational bidders. It shows that no matter what strategies bidders are used, their expected profits are always negative. Then, we analyze the impact of some factors on the auction price...
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