Auction Application Research Articles

Development of Online Auction System Using Greedy Algorithm Method Based on Model-View-Controller (MVC)

This research develops an online auction system utilizing the Django framework and Greedy algorithm to optimize the bidding process, addressing challenges in traditional auction systems such as geographical limitations, lack of transparency, and manual processes prone to errors. The study employs an Agile methodology with a Scrum approach, implementing a Model-View-Controller (MVC) architecture to separate business logic, presentation, and data management. The development of the auction application involves planning to identify system requirements, designing the architecture, implementing the backend/frontend, testing features and algorithms, deploying to the server, and conducting evaluation and adjustments based on feedback. Results demonstrate that the use of Django accelerates development and enhances system security, while the implementation of the Greedy algorithm successfully optimizes real-time bidding and winner selection processes. Key features developed include auction management, an automated bidding system, and secure payment integration.

독립성을 상실한 구분건물 담보물의 채권자 보호 방안 연구

Our Constitution stipulates that all property rights that have economic value are guaranteed under public and private law. Nevertheless, the current Civil Execution Act has institutional shortcomings in safeguarding the interests of creditors, and the auction procedures for Sectioned Buildings, for which confirming independent boundaries is challenging, tend to infringe on or damage creditors' rights. The Civil Execution Act states that for Sectioned Buildings for which verifying independent boundaries is difficult, the auction application shall be dismissed or the auction commencement decision shall be canceled, both at the application stage and after the auction commencement decision has been issued. Furthermore, it provides the option to revoke the sale approval decision even after a bid has been placed and the sale approval decision for the buyer has been finalized. There have been numerous cases in which the auction application was terminated or, despite the auction proceeding and a bid being made, the winning bidder could not acquire ownership. Due to the recent establishment of Articles 1-2 of the Condominium Act, which aim to prevent unstable situations in the ownership of Sectioned Buildings and protect people's property rights, the number of cases in which auctions have been recognized or permitted has noticeably increased. However, it is evident that auctions are not permitted in several cases. Therefore, to safeguard the property rights of creditors in cases involving Sectioned Buildings, where it is challenging to confirm independent boundaries, a forced bankruptcy system is suggested under the framework of the Debtor Rehabilitation and Bankruptcy Act. This system allows creditors to apply for a debtor's bankruptcy as a means to enforce their property rights.

Auction Web Application with Neural Style Transfer Technology

Digital art is becoming increasingly popular, and there is a growing demand for online platforms where art can be bought and sold. The purpose of this project is to develop a website that provides such a platform, where art listers can list their digital art pieces for sale, and users can bid on them. Non-fungible tokens (NFTs) provide a new way for artists and photographers to sell their work online. NFT photos and NFT pictures (digital art) can sell for millions of dollars – and there are a growing number of platforms that allow you to buy and sell these items. But what if there is a platform where you can build digital art as well as bid it without any pain. In this project we are building an Auction Application and with help of Python Flask with a feature called neural style transfer where we can build digital arts.

URGENSI PENDAFTARAN PERALIHAN PEMEGANG HAK TANGGUNGAN PASCA MERGER MENJADI BANK SYARIAH INDONESIA

The merger of three Islamic state-owned enterprises into Bank Syariah Indonesia (BSI) has impacted the Mortgage Rights execution post-merger. This is partly due to the change in the name of the bank holding the Mortgage Rights before and after the merger. This study examines the obstacles in executing post-merger Mortgage Rights of three state-owned Islamic banks into BSI and the importance of registering the transfer of Mortgage Rights holders post-merger. This research is done with a normative juridical method through document and field studies at the BSI branch in Palangka Raya, which had experienced obstructions in executing Mortgage Rights when the auction application files was returned by the State Wealth Service and Auction Office. The data is analyzed descriptively and obtained from document and field study. It is found that first, one of the obstacles in executing Mortgage Rights by BSI is the difference in the bank’s name on the Mortgage Rights certificate before and after the merger. Secondly, the registration of the transfer of Mortgage Rights is important because a merger is considered as a cause for the transfer of Mortgage Rights due to "other reasons" (Article 16 of the Mortgage Rights Law). There are priorities to be taken into account in the transfer of Mortgage Rights post-merger includes customers who are due, Non-Performing Financing customers, and customers with Write-Off status.

Consumer Behavior Analysis in Buying Used Cars through Electronic-Based Auction Applications OLX Autos Semarang City

This research examines OLX Autos users, namely one of the electronic service providers available for fast processing and fulfillment of each transaction related to electronic automotive auctions in Indonesia. This study aims to determine the effect of attitudes and subjective norms on purchase intentions and their influence on purchasing decisions at OLX Autos electronic auctions. The sample used in this study was 175 respondents or users of the OLX Autos application. The data analysis method used in this study is Partial Least Square using Smartpls software. The test results show that attitudes have a positive and significant effect on purchase intention. Subjective Norms have a positive and significant effect on purchase intention. Attitude has a positive and significant effect on purchasing decisions. Subjective norms have a positive and significant effect on purchasing decisions. And buying interest has a positive and significant effect on purchasing decisions.

Management of the Receipt Issuance Menu in the Indonesian Auction Application for Public Services at the State Wealth and Auction Service Office (KPKNL) of the DJKN Suluttenggomalut Region

This study aims to, (1) test the effect of issuing auction repayment receipts on the Indonesian auction application on public services, (2) test the effectiveness of using the menu receipt of auction settlement in the Indonesian auction application at Kantor Pelayanan Kekayaan Negara dan Lelang (KPKNL) in the area of the Direktorat Jenderal Kekayaan Negara (DJKN) of North Sulawesi, and (3) test the ease of use of the menu for issuing auction repayment receipts on the Indonesian auction application on the speed and accuracy of public services. The data collection technique used in this study is a qualitative descriptive method with interview techniques to respondents who are directly responsible for using the receipt issuance menu feature in the Indonesian auction application. Respondents who were interviewed were from 3 (Three) KPKNL in the DJKN region of North Sulawesi, namely (1) KPKNL Gorontalo, (2) KPKNL Palu, and (3) KPKNL Ternate. The results of this study indicate that the use of the auction repayment receipt menu in the Indonesian auction application has been effectively used since the Regulation of the Direktur Jenderal Kekayaan Negara (DJKN) Number 02/KN/2022 concerning Auction Administration Guidelines at the KPKNL. Other results from this study indicate that the menu for issuing auction repayment receipts in the Indonesian auction application is able to provide services to the community, especially related to auction repayment receipts, more quickly and precisely. However, from the results of these achievements there are still deficiencies that need to be refined to the contents of the menu features of the research object

Implementation of the Hybrid Mobile Application in The Street Artist Painting Auction Application “Strauction”

The works of street artists' paintings tend to have minimal interest in Indonesia. This is caused by many factors, one of which is the limited scope of painting marketing. Therefore, the author seeks to provide a means of marketing in the form of an online painting auction application. The purpose of this research is to create an application as a means of connecting painting artists with painting enthusiasts. The research method used is descriptive analysis method with a quantitative approach. While in the development process, this application adopts the Hybrid Mobile Application method which has many advantages over the Native Android and IOS methods. The advantages of this hybrid method are in terms of coding effectiveness and efficiency of time and resources used. By applying this method, the application can be accessed from various circulating smartphone operating systems such as Android and IOS so that it can make it easier for the application to be accessed by potential users. The main concept of this application is to implement an auction system in the sale of paintings. This application also has several core features such as painting auctions, homepage, explore, bidding, payments and other supporting features that are expected to facilitate the painting auction transaction process. In the end, this application is intended for painting artists and painting lovers so that it can be easier to make transactions for buying and selling paintings online.

The Application of the Anchoring Effect in Pricing, Consumer Purchases and Auctions

As an important theory in behavioral economics, the anchoring effect has been widely used in the analysis of economic market behavior in recent years. And scholars' research on this effect also involves all aspects of the economic field, which shows how anchoring has a significant impact. It greatly influences how people behave and has repercussions for all types of decision-making processes. Using the method of case study, this paper discusses and analyzes the definition, types, mechanisms, importance and especially the applications of anchoring. It initially reviews previous anchoring applications in pricing, consumer purchases and auctions. Based on the former research, more modified applications are introduced. First of all, when sellers are pricing, their subtle utilization of stereotypes, namely, reference pricing, is demonstrated. It is a stable and adaptable strategy that would be effective in helping firms earn more profits. Then, based on an experiment focusing on consumer purchases and decision-making bias, potential factors leading to and influencing anchoring are discussed, which may enable consumers to be clearly aware of current conditions and therefore come up with methods protecting themselves from being affected. Lastly, the anchoring effect can also explain the major mechanisms of auctions in today’s world. Based on that, the reason why classic auctions often begin with unimpressive initial reference prices but end with higher prices when deals are made is figured out. The conclusions drawn from this analysis can help consumers and investors avoid being affected by invalid information and behave more efficiently when they are making decisions.

Combinatorial-Based Auction for the Transportation Procurement: An Optimization-Oriented Review

This paper conducts a literature review on freight transport service procurements (FTSP) and explores the application of combinatorial auctions (CAs) mechanism and the mathematical modeling approach of the associated problems. It provides an overview of modeling the problems and their solution strategies. The results demonstrate that there has been limited scholarly attention to sustainable issues, risk mitigation and the stochastic nature of parameters. Finally, several promising future directions for FTSP research have been proposed, including FTSP for green orientation in the context of carbon reduction, shipper’s reputation, carrier collaboration for bid generation, etc.

ANALISIS SHARIAH COMPLIANCE PENETAPAN HARGA LELANG BARANG JAMINAN DALAM MENGURANGI RISIKO PADA PEMBIAYAAN IB GRIYA DI BANK SUMUT SYARIAH CABANG MEDAN

This research was conducted to determine shariah compliance in determining the auction price of collateral for ib griya financing at Bank Sumut Syariah Medan Branch. The research method used in this research is a descriptive method, in which data are collected, compiled, grouped and analyzed based on facts obtained from the field and then integrated into a clear and focused picture of the problem being studied. While the types of data needed are primary data in the form of interviews with internal bank parties and secondary data in the form of libraries, brochures, articles, and websites. From the results of this study, the authors conclude that 1) the implementation of the mechanism for pricing in the auction of collateral goods is to set a limit value based on the market value and the determination of the auction price set by the Public Appraisal Service Office (KJPP).After the stages of determining the auction price are completed, the bank will submit an auction application and other requirements to the State Property and Auction Service Office (KPKNL). 2)inthe mechanism of price fixing and auction implementation as seen from Shariah Compliance (according to Islamic Sharia) is in appropriate to sharia rules and applicable legal rules, because each step by step the pricing mechanism and auction implementation look at the base price of the auction first bysurveyingto the local market and the central market, a re- assessment carried out by experts in their respective fields, following the rules of procedure, and using the valid data so that it can be facilitated and it does not cause loss to both parties. Therefore it can be concluded that the determination of the auction price for collateral goods in Reducing Risk in Ib Griya Financing at Bank Sumut Syariah Medan Branch is in accordance with shariah compliance (sharia provisions).

An efficient, open-bid procurement auction for small-scale electricity markets

Despite early calls to investigate the application of Vickrey auctions in electricity markets, academic literature still provides little insight into the matter. Similarly, despite general auction-theoretic literature discussing various advantages of employing revealed rather than sealed bidding procedures, publications on electricity market auctions rarely even mention differences between these opposing features. This paper marries these neglected features into a new auction model for electricity markets. We propose a novel open-bid, descending-clock auction capable of handling inter-bidder dependencies such as thermal line limits. A novel set of termination criteria ensures that our proposed auction facing markets with power balance and generator capacity constraints and thermal line limits, preserves truthful bidding as a dominant strategy, which, if employed by all bidders, allocates supply efficiently constituting an ex-post perfect equilibrium. Furthermore, we discuss known disadvantages of Vickrey–Clarke–Groves type auctions in the context of our proposed auction applied in electricity markets.

Design of Mobile Application Auction for Ornamental Fish to Increase Farmer Sales Transactions in Indonesia

This article focuses on designing a mobile application for ornamental fish auction transactions for fish cultivators in order to increase their sales. This mobile app was created using a prototyping methodology and a four step process. The first is communication, the second is Quick plan and design, the third is construction prototyping, which develops a tender application, and the last stage is development delivery and feedback. Data validation is carried out for users such as farmers, bidders, or buyers in developing the application. The results of this paper propose a mobile auction application that provides auction information and bidding by bidders and sellers. The results show that the application is validated and declared usable and feasible to conduct auctions and bids as needed. This application can increase sales and improve the economic life of ornamental fish farmers in Indonesia.

Auction Application for Beringkit Animal Traditional Market Based on Android

Beringkit Animal Market is one of the large traditional animal markets in Bali which is famous for selling superior cows. In addition to selling superior cows, Beringkit Animal Market also sells dogs and various types of poultry such as chickens, ducks and roosters. However, in the midst of the COVID-19 outbreak, traditional markets are considered as the main cluster for the spread of COVID-19 due to the large number of interactions between buyers and traders. The implementation of Community Activity Restrictions (PPKM) has resulted in a lack of income for traders at the Beringkit Animal Market. This study aims to design an Android-based online animal auction application as a medium for buying and selling animals to minimize physical interaction between buyers and traders, the online auction transaction process is chosen because the auction transaction process can bring together traders and buyers in the same online media and make offers up to reach the highest agreed price. The research method applied is the DSRM method or Design Security Research Method, application development uses Android Studio to develop mobile applications, and uses Visual Studio Code to develop web-based systems. Data storage and web server management in this study using MySQL and Laravel. The results of this study are in the form of an Android-based animal auction application that can be used as a medium for transactions between buyers and traders who have gone through the blackbox testing process with the test results as expected.

Risk aversion and auction design: Theoretical and empirical evidence

Auctions are inherently risky: bidders face uncertainty about their prospects of winning and payments, while sellers are unsure about revenue and chances of a successful sale. Auction rules influence the allocation of risk among agents and the behavior of risk-averse bidders, leading to a breakdown of payoff and revenue equivalence and a heightened significance of auction design decisions by sellers. In this paper, we review the literature on risk aversion in auctions, with an emphasis on what can be learned about auction design from theoretical modeling and empirical studies. We survey theoretical results relating to the behavior of risk-averse agents in auctions, the comparison of standard auction formats in the presence of risk aversion and implications for auction design. We discuss standard and more recent approaches to identifying risk preferences in empirical studies and evidence for the significance of risk aversion in auction applications. Finally, we identify areas where existing evidence is relatively scant and ask what questions empirical research might ask given the theory and where further theoretical research may be beneficial given existing empirical results.

ANTICORRUPTION EFFICACY IN PUBLIC PROCUREMENT

According to the results of studies of scientists researches publications over the past 30 years and empirical studies on the public procurement organization, it is distributed on electronic platforms. Attention is focused on the dynamic aspects of the of an such organization development. A review of studies on aspects of the effects of electronic public procurement on their impact on country budget expenditures is made.The interdisciplinary nature of publications on public procurement studied in the field of technology, management and social interaction is highlighted. Although electronic public procurement should be fairly widespread in the world, a form such as electronic auctions is not often used.The experience of Ukraine shows that electronic auctions have the potential to improve public procurement. It focuses on the development of partially automatic applications of electronic auctions, which can reduce the administrative costs of buyers and sellers, as well as the transaction costs of budgets in general. Reducing such costs is a significant addition to the savings in lowering prices during the electronic auction and is a significant factor in the effectiveness of modern electronic public procurement.The author's systematization of the components of the effectiveness of the electronic public procurement system is proposed, despite the fact that its calculation should be systematically automated. An algorithm is proposed for stimulating a responsible executor — budgetary institutions — as a result of effective budget procurement.The grounds have been formed for identifying elements of further modernization of public procurement using electronic auctions on an electronic platform as an effective tool in the field of preventing money laundering, proposals for a national financial audit of the relevant public procurement benchmarks on an electronic platform.

The Work of Milgrom and Wilson in the Theory and Practical Application of Auctions

This paper seeks to provide insight into the field of auction theory to the general readership, the area of the 2020 Nobel laureates in Economic Sciences, Paul Milgrom and Robert Wilson. To understand for what reasons and for what purpose they were awarded the Nobel Prize, it is worth taking a step back, looking at this area of economics from a greater distance. For this reason, we not only report the results associated specifically with their names here, but we also review the path to get here. Finally, we provide an outlook for the future of the topic with a brief description of the interdisciplinary areas of engineering economics and market design.

Research and Application of Smart Contract Based on Ethereum Blockchain

With the rapid development of blockchain technology and the increasing demand for partial decentralization of the Internet, the application of underlying technology based on blockchain has been widely concerned. Along with decentralized objects, the programmable financial system represented by Ethereum has been gotten more and more attention. However, smart contract sacrifices its security to improve decentralization. So Ethereum has the fatal problem with a large number of users, and negligence of users in coding contract threatens the entire Ethereum network. Therefore, this paper aims to research and expand applications of smart contract usage in Ethereum blockchain. We start from basic concepts to define structure of Ethereum, and then discuss security issues on smart contract. In the end, an optimized smart contract application of auction is implemented, which is useful for further consolidating and understanding of smart contract in practice.

The Cross-Entropy Method for the Winner Determination Problem in Combinatorial Auctions

The combinatorial auction is one of the important methods used for multi-item auctions, and the solution to the winner determination problem (WDP) is the key factor in the widespread application of combinatorial auctions. This paper explores the use of the cross-entropy method to solve the WDP, which is an NP problem. The performance of the proposed approach is evaluated on the basis of two well-known benchmark test cases. The experimental results show that, compared with the genetic algorithm and the particle swarm optimization algorithm, the cross-entropy（CE）method has the advantages of a higher success rate and a shorter time for solving the WDP. Therefore, the CE method provides a high-quality solution for the effective solution of the problem of determining winning bids in combined auctions.

Train path congestion management: Using hybrid auctions for decentralized railway capacity allocation

Despite the entry of new competitors into the railway market in European countries, the capacity allocation mechanism still relies on the same service priority criteria as before the adoption of 91/440/EEC Directive. Without the implementation of a market-based mechanism or criteria, the current administrative approach of network capacity allocation inhibits further development of competition and especially freight railway transport. In this paper, the application of auctions is limited to a part of railway infrastructure. In view of the specificities of the railway sector and the nature of infrastructure capacity, the following question can be raised: Are there auction mechanisms that reduce the likelihood of collusion and at the same time achieve a high degree of efficiency of capacity allocation? In such a context, this article considers the implementation of hybrid auctions for the purpose of train path allocation. In order to facilitate the implementation of various types of auctions in allocation procedure on railways, this paper develops and models an algorithm for iterative train paths allocation. With the proposed algorithm, the auction outcomes have been determined in a simulation with the objective of comparing the performances of hybrid (two-phase) auctions: Anglo-Dutch and second-price Amsterdam auction with some well-known standard-type auctions: English and sealed-bid first-price auction. The results indicate that hybrid auctions are a better choice in European conditions when railway undertakers are asymmetric, especially if there is a threat of collusion. These results could help an IMs to decide which type of auction mechanism to choose for the railway capacity allocation.

Bid-Fish: An android application for online fish auction based on case study from Muara Angke, Indonesia

In utilizing natural resources from the sea, the Indonesian government has obliged fishermen to distribute all the fish they catch at a fish auction institution that has been provided at each landing port, namely the Fish Auction Place or known as Tempat Pelelangan Ikan (TPI) in Bahasa. In this study, we made a sample case at the TPI Muara Angke, North Jakarta which has a function to improve the welfare of fishermen through an auction which is expected to achieve optimal prices. However, in practice, it turns out that there are often price discrepancies expected by fishermen because there are no bidders who bid for more of the fish they have made fishermen prefer to sell their fish catches into cold storage or even directly abroad due to a bad auction system. This is very detrimental to Indonesia because it has lost a lot of its national income. Therefore, it is necessary to digitize the embodied fish auction process in the form of an online mobile platform-based fish auction application to be able to introduce fish training more widely so that many auction participants want to bid higher fish auction prices without limited space and time for bidders participate in the auction so that the potential value obtained by fishermen can be greater and in accordance with the expectations of the fishermen. In this study, we built a mobile application for online fish auctions called “BidFish” which consists of two applications for admin (TPI) and users who have the auction feature (auction) in real time within the time specified by the admin who will automatically determines compiling a price quote from the highest price other than that there is a deposit storage feature (BidPay) which is a requirement for the user to be able to attend an auction. This application is built with the Android platform considering the level of Android smartphone usage is very large in Indonesia so it is expected to be a solution to the price mismatch problem that occurs in an auction by getting more bidders.