Abstract
Shopping by using online auction has become a fascinating exchange tool in the past decade. Buyers are able to compare the prices of the identical items listed by hundreds of sellers in the online auction marketplace. In fact, it can be argued that the auction-based electronic markets best represent the changes to business inherent in e-commerce. The significance of online auction for today’s business inquires more attention on the topics regarding effectiveness of buyers’ bidding strategies and efficiency of auction system design. Although a great deal of papers on auction has been published every year, there is certainly great demand for attention on consumers’ behavior in online auction (Bazeman 2001).
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