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8-29 8-30Table 11.7, Page 7428-31 8-32
Seller and Consumer Behaviorat AuctionsAuction Profits• Seller profit: arrival rate, auction length, and number ofunits at auction• Auction prices not necessarily the lowest• Unintended results of participating in auctions:– Winner’s regret– Seller’s lament– Loser’s lament• Consumer trust an important motivating factor inauctions8-33Figure 11.5, Page 737SOURCE: Vakrat and Seidmann, 1998.8-34When Auction Markets Fail: Fraud and Abusein Auctions• Markets fail to produce socially desirable outcomes infour situations:– Information asymmetry, monopoly power, publicgoods, and externalities.• Auction markets prone to fraud– Most common: failure to deliver, failure to pay• In 2010, 6% of Internet fraud complaints concern onlineauctions8-35 8-36
Page 1 and 2: COMP 6350 eCommerce systemsTeaching
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Page 5 and 6: Defining and Measuring the Growth o
Page 7: • English auctions:Types of Aucti
Page 11 and 12: Types of PortalsTwo General Types o
Page 13: 4. List and briefly explain three o

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