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Background & Research Questions
It is said that practically anybody can buy and sell anything on the popular online marketplace, eBay. Typically, items traded on eBay are sold via time-limit auction – that is, the seller specifies a starting price and a time period within which potential buyers can bid on their item. The item is sold to the highest bidder at the closing time. Potential buyers can view feedback scores for eBay sellers – that is, past buyers give the seller a rating based on their experience dealing with the seller. This feedback could influence whether/how much the potential buyer bids on the item. In the sense that eBay auctions involve choices and human interaction of a strategic nature, economists have given much attention to the “game” of bidding, the role of feedback scores and other factors in determining the final sale price of eBay auctions.
In thisresearch project, you will use real eBay data to investigate the factors that contribute to variations in the final sale price of eBay auctions of the popular MP3 player, iPod Mini.
(F:workteachingLecturesBUS294Xiaohuiassignment2)
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