Industrial Engineering and Management Systems

Korean Institute of Industrial Engineers (대한산업공학회)
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Analysis of Contract Price in a B2B Automobile Auction

  • Received : 2009.03.31
  • Accepted : 2009.08.21
  • Published : 2009.12.31
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Abstract

This study analyzed the structure of pricing in the automobile auction market by using real trade data. We focused on the bidding behavior of bidders and the contract price of exhibits. First, we proposed a relational framework among exhibits, number of bidders, and the contract price. Next, we utilized a neural network model to estimate the number of bidders and the contract price. Subsequently, we investigated the relationship between the number of bidders and the contact price, and evaluated our method through an analysis that employed verifying data. Lastly, we listed our suggestions for bidding in auction markets.

Keywords

References

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