Abstract
Online auctions for perishable products have tremendous potentials. However, the current forms of online auctions do not take full advantages of information technology enabled online auctions, and are ineffective for online auctions for perishable products. This study proposes a virtual competition auction model for perishable products. In virtual competition auctions, the bidder is provided with auction historical data, and the bidder’s decision is represented by a demand curve that is composed of a series of bids. A preliminary laboratory experiment based on a prototype of virtual competition auction system is reported. The preliminary laboratory experiment result shows that the virtual competition auction model for perishable products is more effective than the ordinary open-cry auction model.
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