An Investigation of Value Updating Bidders in Simultaneous Online Art Auctions.pdfVIP

Hindawi Publishing Corporation Journal of Probability and Statistics Volume 2010, Article ID 539763, 18 pages doi:10.1155/2010/539763 Research Article An Investigation of Value Updating Bidders in Simultaneous Online Art Auctions Mayukh Dass,1 Lynne Seymour,2 and Srinivas K. Reddy3 1 Rawls College of Business, Texas Tech University, Lubbock, TX 79409, USA 2 Department of Statistics, University of Georgia, 205 Statistics Building, Athens, GA 30602, USA 3 Center for Marketing Excellence, Lee Kong Chian School of Business, Singapore Management University, 50 Stamford Road #05-01, Singapore 178899 Correspondence should be addressed to Mayukh Dass, mayukh.dass@ Received 2 July 2009; Revised 18 November 2009; Accepted 16 February 2010 Academic Editor: V. V. Anh Copyright q 2010 Mayukh Dass et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Simultaneous online auctions, in which the auction of all items being sold starts at the same time and ends at the same time, are becoming popular especially in selling items such as collectables and art pieces. In this paper, we analyze the characteristics of bidders Reactors in simultaneous auctions who update their preauction value of an item in the presence of influencing bidders Influencers. We represent an auction as a network of bidders where the nodes represent the bidders participating in the auction and the ties between them represent an Influencer-Reactor relationship. We further develop a random effects bilinear model that is capable of handling covariates of both bidder types at the same