Public interactions of auction participants and their impact on online auctions of nonperishable experience goods

IF 3.8 Q2 MANAGEMENT Journal of Strategy and Management Pub Date : 2024-07-05 DOI:10.1108/jsma-03-2024-0063
Mayank Jaiswal
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Abstract

Purpose

The Internet has introduced new ways of conducting business. Online auction of nonperishable experience goods (NPEG) items, which are generally rare, expensive and durable and need to be experienced to be valued, is one area that is undergoing significant change. Online auction platforms are encouraging participants to interact publicly in a social media type comment format. This paper investigates how such public interactions impact the auction outcomes of NPEG.

Design/methodology/approach

Auction records of vintage automobiles sold between 2015 and 2023 on one of the biggest online auction platforms in the USA were collected. The dataset contains multiple variables per record such as winning bid price, number of comments by sellers and browsers and various details of the automobile, for example brand, vintage and mileage. Ordinary least squares was utilized to analyze close to 42,000 records in the dataset.

Findings

The paper found that comments in general are positively correlated with the winning bid; it also found that online buyers value browser comments higher than seller comments. Furthermore, the relationship between vintage and origin country and winning bid is enhanced by browser comments.

Originality/value

This research furthers theory on two fronts. Firstly, we analyze how auction outcomes are impacted when buyers, casual observers and sellers interact with each other publicly when the auction is ongoing. To the best of the author's knowledge, this is one of the first studies that delve into participant interactions in online ongoing auctions. Secondly, we investigate how potential buyers utilize participant interaction information to guide their decisions about the value of NPEG.

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拍卖参与者的公开互动及其对非易腐经验品在线拍卖的影响
目的 互联网带来了新的商业运作方式。非易腐体验品 (NPEG) 物品通常稀有、昂贵、耐用,需要亲身体验才能估价,其在线拍卖是正在经历重大变革的一个领域。在线拍卖平台鼓励参与者以社交媒体评论的形式进行公开互动。本文研究了这种公开互动如何影响 NPEG 的拍卖结果。本文收集了美国最大的在线拍卖平台之一在 2015 年至 2023 年期间售出的古董汽车的拍卖记录。数据集包含每条记录的多个变量,如中标价格、卖家和浏览者的评论数量以及汽车的各种详细信息,如品牌、年份和里程数。本文利用普通最小二乘法对数据集中的近 42,000 条记录进行了分析。研究结果 本文发现,一般来说,评论与中标价格呈正相关;本文还发现,在线买家对浏览器评论的重视程度高于卖家评论。此外,浏览器评论增强了年份和原产国与中标之间的关系。首先,我们分析了当拍卖正在进行时,买家、临时观察者和卖家之间的公开互动会如何影响拍卖结果。据笔者所知,这是第一批深入研究在线持续拍卖中参与者互动的研究之一。其次,我们研究了潜在买家如何利用参与者互动信息来指导他们对 NPEG 价值的决策。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
6.30
自引率
9.70%
发文量
28
期刊介绍: The Journal of Strategy and Management is an international journal dedicated to: -improving the existing knowledge and understanding of strategy development and implementation globally in private and public organizations -encouraging new thinking and innovative approaches to the study of strategy -offering executives strategic insights based on outcomes of original scholarly research; and -establishing effective communication between researchers and executives managing public and private organizations.
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