SJSU CMPE 236 - Online Auction (26 pages)

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Online Auction



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Online Auction

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Pages:
26
School:
San Jose State University
Course:
Cmpe 236 - Mobile Web Application Systems
Mobile Web Application Systems Documents

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Online Auction Instructor Jerry Gao Ph D San Jose State University email jerrygao email sjsu edu URL http www engr sjsu edu gaojerry May 2000 Topic Online Auction Outline Introduction of Online Auction Types of Auction Models Traditional Auctions Versus Electronic Auctions Auction Process Auction Requirements Online Auction Auction Protocols Agent Based Auction Systems Problems and Issues Jerry Gao Ph D 5 20000 All Rights Reserved Topic Online Auction Introduction to Online Auction According to the Webster Universal College dictionary Auction also called public sale is a publicly held sale at which property or goods are sold to the highest bidder McAfee and McMillan 1987 states that an auction is a market institution with an explicit set of rules determining resource allocation and prices on the basis of bids from the market participants The earliest web based auctions Onsale appear in May 1995 eBay opened in September 1995 Jerry Gao Ph D 5 2000 Topic Online Auction Types of Auction Models Multiple bids multiple offers Forms of bids private public single multiple Occurrence of trans Closed Auction ascending English Auction Jerry Gao Ph D 5 2000 yes Sequence rule Double Auction no sequence periodic continuous Ordering mechanism order book descending Dutch Auction clock Japanese Auction Call Auction Continuous Auction Double English Auction Double Dutch Auction English Dutch Auction Topic Online Auction Types of Auction Models English Auction Bidders Winner Example continuous ascending auction Open Cry First Price auctions see high bid and possibly high other bidders bids and comments and update their bids during the auction the highest bidder and pays the price bid Onsale First Price Sealed Bid Auction Bidders email in secret buds for item bids are opened simultaneously no chance to update the submitted bids Winner the highest bidder is the winner Example The Chicago Wine Company Timeshare Resale International Dutch Auction continuous descending auction Auctioneer



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