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Exposing the True Value of Exposure - A quantitative case study on Stockholms Auktionsverk and the impact of exposure on online English auctions

Eriksson, Elvira LU (2019) NEKH02 20192
Department of Economics
Abstract
In present time, online auctions have gained popularity in many markets. They enable a high volume of transactions with its distinguishing characteristics. Both traditional and online auctions have a reputation of efficiency. This study focuses on trying to explain exposure’s impact on online auctions, in particular English online auctions. Exposure in this study is defined as an item’s time duration on the front page of Stockholms Auktionsverk’s website. By default, the items on the front page are the items that have the shortest time left until the auction closes. In other words, it is the differences in exposure between the items on the last day and the correlation with the auction outcomes that are of interest. By using a quantitative... (More)
In present time, online auctions have gained popularity in many markets. They enable a high volume of transactions with its distinguishing characteristics. Both traditional and online auctions have a reputation of efficiency. This study focuses on trying to explain exposure’s impact on online auctions, in particular English online auctions. Exposure in this study is defined as an item’s time duration on the front page of Stockholms Auktionsverk’s website. By default, the items on the front page are the items that have the shortest time left until the auction closes. In other words, it is the differences in exposure between the items on the last day and the correlation with the auction outcomes that are of interest. By using a quantitative method called “web crawling”, this study tries to match the amount of time on the front page with the deviation of the estimated price and the final number of bids. The initial research question of this study did not generate a positive significant result on the auctions’ outcomes, but exposure as a test variable still proved to be interesting. Exposure in terms of the particular closing time during the day had a significant influence on the auction outcomes in terms of deviation from the estimated price on weekdays. (Less)
Please use this url to cite or link to this publication:
author
Eriksson, Elvira LU
supervisor
organization
course
NEKH02 20192
year
type
M2 - Bachelor Degree
subject
keywords
Auction theory, English auction, exposure, online auction, web crawling, market design
language
English
id
8998026
date added to LUP
2020-03-17 10:44:41
date last changed
2020-03-17 10:44:43
@misc{8998026,
  abstract     = {{In present time, online auctions have gained popularity in many markets. They enable a high volume of transactions with its distinguishing characteristics. Both traditional and online auctions have a reputation of efficiency. This study focuses on trying to explain exposure’s impact on online auctions, in particular English online auctions. Exposure in this study is defined as an item’s time duration on the front page of Stockholms Auktionsverk’s website. By default, the items on the front page are the items that have the shortest time left until the auction closes. In other words, it is the differences in exposure between the items on the last day and the correlation with the auction outcomes that are of interest. By using a quantitative method called “web crawling”, this study tries to match the amount of time on the front page with the deviation of the estimated price and the final number of bids. The initial research question of this study did not generate a positive significant result on the auctions’ outcomes, but exposure as a test variable still proved to be interesting. Exposure in terms of the particular closing time during the day had a significant influence on the auction outcomes in terms of deviation from the estimated price on weekdays.}},
  author       = {{Eriksson, Elvira}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Exposing the True Value of Exposure - A quantitative case study on Stockholms Auktionsverk and the impact of exposure on online English auctions}},
  year         = {{2019}},
}