Auction Participants Research Articles

Pengaruh Kualitas Produk dan Harga terhadap Keputusan Pembelian pada Lelang Barang Bekas

This research aims to determine the influence of product quality and price on purchasing decisions at used goods auctions. The method in this research uses quantitative methods with a survey approach as the research design. The research population was all auction participants in Bekasi City, totaling 40 auction participants. The sampling technique is a saturated sampling method so that all members of the population are used as samples. Data collection in this research was carried out through the use of a questionnaire. For data analysis, various tests were carried out, including data quality tests (which include validity and reliability tests), classical assumption tests, and the application of multiple linear regression techniques, including the coefficient of determination test. The research results show that simultaneously and partially there is a positive and significant influence on purchasing decisions.

Public interactions of auction participants and their impact on online auctions of nonperishable experience goods

Public interactions of auction participants and their impact on online auctions of nonperishable experience goods

Quality Uncertainty and Repeat Purchases in Fish Auctions: Are Price Affected?

Abstract Auctions are widely used for agricultural and seafood products worldwide. However, buyer uncertainty regarding product quality may affect auction participation and efficiency negatively. This study examines repeat purchases (RPs) as a strategy to reduce buyer uncertainty regarding product quality and whether prices are affected. We also examine whether prices are affected by buyers’ option to prioritise among bids for several lots in the same auction period. Using hedonic price functions on data from the Norwegian pelagic auction, we find that RPs are associated with lower prices and that lots with first priority obtain higher prices than comparable random transactions.

Online Auction System Using Python, Blockchain and Cloud Computing

Abstract: The "Advanced Online Auction System Using Python, Cloud Computing, and Block chain Integration” is a pioneering project designed to transform the landscape of online auctions. This project leverages the synergistic power of Python programming, cloud computing infrastructure, and Block chain technology to create an innovative online auction platform. Our system offers a secure and transparent environment for auction participants, ensuring trust and credibility throughout the auction process. Through the integration of cutting-edge technologies, it addresses the evolving needs and challenges of online auctions, providing an efficient and user- friendly experience. With a focus on security, transparency, scalability, and user engagement, this project aims to revolutionize the online auction industry, setting new standards for efficiency and trustworthiness. By combining these technologies, it represents a significant step forward in the world of online auctions and promise store shape the way auctions are conducted and experienced.

ИСПОЛЬЗОВАНИЕ ЭЛЕКТРОННЫХ ТОРГОВЫХ ПЛОЩАДОК ДЛЯ УВЕЛИЧЕНИЯ ОБЪЕМА СБЫТА ПРОДУКЦИИ РОССИЙСКИХ КОМПАНИЙ

The expediency of Russian manufacturers' participation in electronic auctions is due to the need to increase sales, expand business ties, and search for new partners, which is quite relevant in modern economic conditions. To study the impact of participation in electronic auctions on the performance of an individual company, a typical joint–stock company was chosen - a representative of a medium-sized business that produces products mainly for the needs of communications and medicine. At the same time, the most promising is the study of the activities of electronic trading platforms in Russia and Belarus, as the most accessible to Russian companies. It was on the example of these sites that proposals were considered in order to select orders for products corresponding to the nomenclature that the company chosen for the analysis could offer. An important issue in the study was the justification of the procedure for choosing contracts in which the company under study could win over competitors. To do this, the authors propose the following actions: after selecting the most promising sites, it is necessary to consider specific contracts involving the supply of products manufactured by this company, taking into account the possibilities of additional production; contracts with commercial attractiveness and economically justified in terms of the effectiveness of additional production and sale of the company's products are selected as preferred; The prices of the products offered in the contracts are compared with the prices at which the company could offer products, taking into account the cost of production. Based on the fact that a company offering products at prices lower than competitors' prices may not always win the competition, it seems advisable to study the probability of such victories, on the basis of which the number of contracts that this company can conclude is predicted. The results of the research conducted by the authors demonstrated that participation in electronic auctions contributes to achieving the desired goal, namely, the search for new partners, and the growth of sales volumes.

О некоторых вопросах проверки достоверности информации, предоставляемой участниками закупок при проведении электронного конкурса

The article discusses the responsibilities of the procurement commission, acting as one of the main collective entities on the part of the customer, to verify the accuracy of the information contained in the application to combat potential abuse of the participants in the procurement. The article discusses the responsibilities of the procurement commission, as one of the main collective entities on the part of the customer, designed to combat potential abuses of procurement participants, to verify the accuracy of the information contained in the application. The consolidation of these responsibilities in the law is analyzed, including in general rules that both establish the principle of ensuring competition and the constitutional prohibition of unfair competition, some existing mechanisms for verifying the accuracy of certain information available as part of an application for participation in tenders are considered, and an attempt is made to differentiate the rights of the said commission from its responsibilities in this aspect. It also examines some of the difficulties that make it objectively impossible to verify the accuracy of all information contained in the application. Some issues of bringing to administrative responsibility for failure to fulfill the obligation to verify the accuracy of information, actually expressed in unlawful admission to participation in auctions, or, conversely, refusal from such participation, are being studied. At the level of problem formulation, one of the imperfections of legislative regulation is outlined, expressed in the absence of an effective mechanism that should allow procurement commissions to control the accuracy of all information provided as part of the application.

Ways to enhance the operations of interregional territorial departments of the Antimonopoly Committee of Ukraine: Ensuring unity in safeguarding economic competition

The article provides a thorough analysis of the structure and functions of the territorial branches of the Antimonopoly Committee of Ukraine, focusing on their decisive impact on regional control over compliance with legislation on economic competition protection. The key role of the Committee’s Chairman is highlighted, emphasizing the importance of the branches’ functionality in shaping and implementing competitive policies.The article proposes specific recommendations to enhance the effectiveness and compliance with legislation of interregional territorial branches. The authors identify shortcomings and propose solutions to issues related to the application of legislation on economic competition protection. The article emphasizes the crucial importance of adhering to the Methodology and calls for the use of a unified practice among interregional territorial branches.Specific proposals for decisions by the administrative boards of territorial branches are discussed, addressing the correction of discrepancies in the Methodology, strengthening control, and improving case review procedures. The significance of regular updates and improvements to the methodology of territorial branches’ work is emphasized to prevent unjust decisions and deficiencies in conducting investigations.In the context of anticompetitive cases, the article highlights the necessity of considering specific circumstances and ensuring proper control over the review, evidence collection, and justification of decisions to improve the quality and objectivity of antimonopoly control in Ukraine.In the analysis of cases related to violations of anticompetitive concerted actions affecting auction outcomes, the Antimonopoly Committee can identify the absence of necessary documents, such as bank guarantees, provided by auction participants. The primary goal is to identify facts of competition violations. However, it is crucial to avoid general conclusions regarding the submission of all necessary documents, as this area falls under legislation on public procurement and is not within the scope of the Antimonopoly Committee’s investigation or authority.

Исследование трансформации рынка частных инвестиций в России на современном этапе

The need to ensure the stable development of the Russian economy and financial market in the current geopolitical conditions presupposes the use of domestic financial resources as the main source of investment. Of particular scientific and practical importance is the identification and research of key trends and growth drivers in the development of the Russian private investment market, the main participants of which are resident individuals. The analysis of the features and changes in the functioning of the domestic stock market at the present stage allowed us to substantiate the conclusion about the strengthening of the role of the retail investor, including due to the universal digitalization of society and increasing the availability of basic exchange instruments for the mass consumer, whose investment behavior is now becoming decisive in the transformation of the Russian stock system as the largest element of the financial market in the country. A study of the quantitative and qualitative characteristics of the activities of resident individuals on the stock exchange in the segment of trust management and brokerage services, which allowed to assess the volume of their investment, investment activity, share of participation in auctions, including in certain market segments, industry rotation of investments, investment horizon, as well as to identify the significant changes in the retail investor's investment preferences, which affected the structure and quality of his portfolio. The factors and areas of activity that contribute to the solution of the task identified at the state level as a priority to stimulate the process of transforming the savings of the population into long-term investments are identified.

Borrowing Stigma and Lender of Last Resort Policies

AbstractHow should the lender of last resort provide liquidity to banks during periods of financial distress? During the 2008–2010 crisis, banks avoided borrowing from the Fed’s long-standing discount window but actively participated in its special monetary program, the Term Auction Facility, although both programs had the same borrowing requirements. Using an adverse selection model with endogenous borrowing decisions, we explain why the two programs suffer from different stigma costs and how the introduction of TAF incentivized banks’ borrowing. We discuss the empirical relevance of the model’s predictions.[Banks] deliberately did not ask for the liquidity they needed for fear of damaging their reputation—the ‘stigma’ problem… I do not think we were conscious of this before the crisis started and I do not think central banks have a convincing answer to it… This is, I think, still a challenge in how to manage the process of central bank provision of liquidity support. This is one of the big intellectual issues that has not been fully resolved. (Governor Mervyn King, Bank of England (2016))For various reasons, including the competitive format of the auctions, [Term Auction Facility] has not suffered the stigma of conventional discount window lending and has proved effective for injecting liquidity into the financial system… Another possible reason that [Term Auction Facility] has not suffered from stigma is that auctions are not settled for several days, which signals to the market that auction participants do not face an immediate shortage of funds. (Ben Bernanke, testimony to U.S. House of Representatives (2010))

Calcutta auctions

ABSTRACT This analysis is the first study to examine an emergent wagering market: the Calcutta auction. Participants in Calcutta auctions bid for entrants that compete to earn a pre-determined percentage of an unknown total pot size. Utilizing 13-year data from an in-person Calcutta auction of NCAA men’s basketball tournament teams, evidence exists of a traditional favourite-longshot bias, of lower overall returns existing for teams in the middle of the team quality distribution and of auction participants being unable to correctly identify (through higher bids) teams that ultimately win more games after their quality is taken into account.

Enhancing Auction Systems with Blockchain Technology

This research paper examines the use of blockchain technology in auction systems. Traditional auction systems face issues related to trust, transparency, and security. Blockchain offers a decentralized and immutable solution that can enhance the efficiency, security, and transparency of auctions. The paper provides an overview of blockchain technology and identifies the challenges in traditional auctions that blockchain can address. It explores existing blockchain-based auction systems and evaluates their effectiveness in mitigating issues such as bid manipulation and fraud. The impact of blockchain on auction participants is also discussed, including benefits like increased trust and reduced transaction costs, as well as challenges related to adoption and scalability. The paper considers both theoretical and practical aspects, analyzing case studies and implementation challenges. It concludes by summarizing the key findings and suggesting future research directions to advance the application of blockchain in auction systems. The auction contract allows users to place bids and determine the highest bidder within a specified time period. The contract also provides functionality for canceling the auction and finalizing it by transferring the funds to the appropriate recipients.

The progression of Guarantees of Origin trading in Croatia amidst the European framework

This article explores the progress and development of Guarantees of Origin trading in Croatia, specifically focusing on the regulatory framework implemented by the Republic of Croatia. The responsibility for issuing Guarantees of Origin for electricity and managing the Registry of Guarantees of Origin lies with the CROATIAN ENERGY MARKET OPERATOR Ltd. (HROTE). The Croatian Registry of Guarantees of Origin was established in 2014, and full implementation commenced in February 2015 with the registration of the first users. In alignment with the Law on Renewable Energy Sources and Highly Effective Cogeneration, HROTE, as the leader of the ECO Balance Group for incentivized electricity production, began selling a portion of the energy produced on the trading platforms of CROATIAN POWER EXCHANGE Ltd. (CROPEX) since the beginning of 2019. This shift towards market-based electricity sales created an opportunity to establish a system for trading Guarantees of Origin, specifically for electricity produced by eligible incentivized producers and sold on CROPEX markets by HROTE. The issuance of Guarantees of Origin for relevant power plants occurs within the Croatian Guarantees of Origin Registry, where they are sold to market participants based on market principles through Guarantees of Origin Auctions. CROPEX organizes these auctions using a specially developed IT auction trading platform. Once an auction is successfully completed, the raised funds are transferred to the incentivized system fund, and the sold Guarantees of Origin are transferred from HROTE's account in the Guarantees of Origin Registry to the user accounts of the auction participants. Overall, Guarantees of Origin empower end customers to determine the source of their supplied electricity, enabling them to make informed choices. This energy certification process verifies that consumers have purchased energy from renewable sources. Guarantees of Origin also serve as effective tools for promoting the use of renewable energy sources and attracting investments in renewable energy generation. Consequently, they contribute to achieving targets related to renewable energy utilization. The article also delves into the background and development of Guarantees of Origin trading in Croatia, positioning the country as a leader in this domain within the European context. It includes a comparative analysis of the Guarantees of Origin market in the United Kingdom as a reference point, with consideration given to the impact of Brexit on Guarantees of Origin markets. Additionally, the article explores the segregation of Guarantees of Origin auctions based on specific technologies and their characteristics. For instance, Guarantees of Origin from biomass power plants are sold through two different auctions based on the plant's installed capacity, while Guarantees of Origin from wind power plants are also sold through two auctions, but contingent on the commissioning start date. These distinctions lead to varying prices depending on the technology's age or installed capacity.

농지 경매 매각가율 결정요인 연구

In this study, an empirical analysis was conducted using a hedonic pricing model to determine the factors affecting the farmland auction sales price ratio in Hwaseong-City. The results show that the variables that have a positive(+) effect are road interface(others), successful bid price, number of bidders, and the variables that have a negative(-) effect are number of failed bids, planned management area(etc.), farm area were found to have an effect. The size of the influence on the farmland sales price ratio is in the order of the number of failed bids, road interface(others), planning management(etc.), farmland area, successful bid price, and number of bidders. The contributions of this study are that the farmland variables that form the value of farmland have been used to identify the factors that affect the farmland auction sales price ratio by utilizing the cases of farmland auctions that have won farmland auctions in the court auction, centering on Hwaseong-City. By dividing and analyzing the data, it provided reliable data for decision-making to the participants in the farmland auction.

Analisis Yuridis Dampak Pasca Pandemi Covid-19 Terhadap Lelang Eksekusi Hak Tanggungan Dari Perbankan Pada KPKNL Medan

The purpose of this writing is to analyze the auction mechanism for executing mortgages from banks, the role of the KPKNL in carrying out the execution of mortgages and the obstacles faced by the KPKNL in carrying out the auction. The research method used is normative juridical. The research data comes from secondary data which comes from primary legal materials, secondary legal materials and tertiary legal materials which are then analyzed qualitatively. The results of the first study, that the execution auction of mortgage rights is carried out by creditors by submitting an application for execution of mortgage rights to the head of the local District Court where the collateral object is located. If the Debtor does not fulfill his obligations for a maximum of 8 (eight) days both for repayment and discharge or if he is summoned properly, cannot appear, then the chairman of the court by his position gives an order by letter, to confiscate the object of collateral right to be sold through auction general for payment. Second, the role of the KPKNL, as a government agency in executing the Mortgage Auction, as a supervisor so that auction items are not misused, as a selection agency for Mortgage auction participants, as a guard for the stability of Mortgage auction implementation, as an intermediary between buyers and sellers of auctioned goods. Third, in the implementation of the auction, some of the obstacles faced by the State Property and Auction Service Office are internal constraints and external constraints.

Tinjauan Hukum Islam Terhadap Praktik Jual Beli Online Dengan Sistem Lelang

Buying and selling with an auction system on social media is one of the new transactions, especially buying and selling auctions on Instagram social media and is not yet known in Islamic law. Therefore it is necessary to conduct research to analyze the mechanism of buying and selling auctions on Instagram social media according to a review of Islamic law. The purpose of this study is to find out the review of Islamic law on the practice of buying and selling online with an auction system (a case study of buying and selling ornamental fish on Instagram social media). This research is a field research, namely observing directly objects related to the problem. To support this, a normative approach is carried out by looking at and discussing the problems of buying and selling ornamental fish auctions on Instagram social media. Data collection techniques with interviews and documentation. Data analysis used descriptive qualitative analysis. The results of the study can be concluded that the sale and purchase of ornamental fish auctions on Instagram social media has fulfilled the requirements prescribed in Islamic law (fulfillment of the elements of the actor, object and consent qabul and the conditions). However, there are still a number of violations committed by auctioneers, namely sending items that do not match the photos or videos, and there are unscrupulous auctioneers who make fake bids to increase the auction price, while violations committed by auction participants are not making payments.

Optimal Offering Strategy of GenCo With Joint Participation in FTR Auction and Day-Ahead Market Considering Virtual Bidding

Nodal price separations in Day-Ahead (DA) market caused by transmission congestion create congestion charges/surplus that are reallocated to the market participants through the financial transmission right (FTR) auction. From a market participant's viewpoint, these two markets are interrelated because the revenue of market participant in FTR auction is determined based on the day-ahead locational marginal prices. Furthermore, virtual transactions which are designed to improve price convergence between the day-ahead and real-time markets can directly impact day-ahead prices. This impact through virtual transactions may be utilized by a market participant to increase its FTR value and improve its overall strategy in participating in both FTR auction and day-ahead market. To this end, this paper is the first attempt to reveal this tactic in literature and proposes an offer strategy framework for a price-maker generating company participating in both FTR auction and day-ahead market with the consideration of virtual bidding. First, the possibility of FTR value manipulation is conceptually demonstrated by placing virtual bids in the day-ahead market. Second, a two-stage bi-level offering strategy model is formulated for strategic GenCos, which is further converted to a single level optimization problem by using Karush-Kuhn-Tucker conditions and strong duality theory. Numerical tests on a 5-bus system and IEEE reliability test system (RTS) demonstrate the effectiveness and applicability of the proposed approach.

Актуальные проблемы отсутствия реестра недобросовестных участников торгов по приватизации государственного и муниципального имущества как санкция за недобросовестное поведение участников торгов

The current issues associated with the lack of a unified register of dishonest bidders for the privatization of state and municipal property as a sanction for the dishonest behavior of bidders are considered. Trading in this area is carried out on certain electronic platforms and in accordance with the procedure established by the legislator. Failure to comply with the auction rules leads to delays in the privatization procedure of state and municipal property, which causes certain losses to the auction organizers. The object of the study is social relations that develop as a result of dishonest behavior of bidders for the privatization of state and municipal property. The purpose of the study is to conduct a comprehensive analysis of the dishonest behavior of bidders for the privatization of state and municipal property and determine the formation of a register in the form of a sanction for such behavior. Certain tasks are solved: the features of dishonest behavior of bidders for the privatization of state and municipal property are identified and the effectiveness of the formation of a unified register of dishonest bidders for the privatization of state and municipal property as sanctions for dishonest behavior are determined. A set of general scientific and private scientific methods of cognition is applied, namely: analysis, synthesis, induction, deduction, logical, analogy, etc. The feasibility of forming a register of unscrupulous bidders for the privatization of state and municipal property is proven, the need to use this register as a sanction for such behavior during bidding in the area under consideration, and also the possibility of drawing an analogy with the register of unscrupulous participants in a land auction is justified.

Land law on real estate auction: Practical application and recommendations

Regulations on real estate auctions in our country have existed for a long time through many amendments to the Land Law, from the 2003 Land Law, the 2013 Land Law, and now the draft of the new Land Law. Legal regulations on real estate auctions have created a solid legal foundation for this activity to take place for years, significantly contributing to socio-economic development. However, the implementation of regulations on real estate auction still faces some obstacles, causing damage to the interests of the state and related entities. In particular, in recent times, there are many disputes arising from real estate auction activities because the provisions of the land law, namely the 2013 Land Law, have not foreseen all situations occurring during the real estate auction process, such as issues related to the financial factor of the investor or the conditions for banning and restricting auction participants, or the issue of deposit and deposit penalty still have some points that are not suitable when applied in practice, etc. By using the synthesis and analysis methods, the article aims to understand the current legal framework on real estate auctions and evaluate the actual application of these regulations in practice, thereby giving a discussion on the overall solution to improve regulations on real estate auctions, contributing to the process of commenting on the draft new Land Law and relevant legal regulations.

Electronic Auction Fraud: An Insight into the Green Snake in Green Grass

The emergence and commercialization of the internet in the mid-1990s have revolutionized everything man hitherto does manually. Man’s quest to reduce human drudgery became exerting, and his wish that he could wake one day and get everything (including his sleep) done with the help of computers intriguing. This quest is as a result of the internet. In the world of e-commerce, since the formal launch of the internet in 1995, auctioneering became the first-child driven from the comfort of man via the use of computers connected together in a network (internet). Before the birth of e-shopping, dozens of eauction systems were developed and launched in 1995, including on sale (the first ever e-auction site), Auction Web, Esty, eBay, Yahoo, Amazon, etc. Auctioneering, derived from a Latin word augeo meaning "I increase" or "I augment” is driving the world of e-commerce till date. The benefits of electronic auctioneering cannot be over emphasized. Compared with e-shopping, e-auction allows buyers to bargain price that suit their taste and desire- the reason it is widely patronized. In spite of its numerous benefits, e-auction is on a daily basis facing fraudulent activities- which the researchers see as a green snake in green grass. The paper x-rays the benefits of e-auction at a glance, and takes an explicit/concise look at the various eauction frauds with simplicity of styles to help participants of e-auction understand how these fraudulent activities are perpetrated at each stage of the auctioneering process by fraudsters, and proffer measures that will help auction participants avoid being scammed or victimized.

Notary Authority in Making Auction Minutes Deeds Based on the Regulation of the Minister of Finance No.90/PMK.06/2016

This study seeks to examine the authority of Notaries to create Auction Minutes Deeds in Indonesia, as well as the evidentiary power of Auction Minutes Deeds, in accordance with Minister of Finance Regulation Number 90 / PMK.06 / 2016. This type of research is normative legal research. As for this study, the authors used a Statue approach, a conceptual approach. The results of the analysis show that a Notary as a Public Official can also hold concurrent positions as a Class II Auction Officer, this is in accordance with Law Number. 2 of 2014 concerning Amendments to Law Number 30 of 2004 concerning the Position of Notary in Article 15 paragraph (2) letter g, which states that a Notary has the authority to make Deeds of Minutes of Auction based on Minister of Finance Regulation Number 106/PMK.06/2013 concerning Instructions for Conducting Auctions those who state that certain people are Class II Auction Officials are Notaries. A notary who has been appointed as Class II Auction Officer has the authority to make Deeds of Minutes of Auction and carry out auctions. Auction Minutes according to the Regulation of the Minister of Finance Number 90/PMK.06/2016 concerning Guidelines for the Implementation of Auctions with Written Bidding Without the Presence of Auction Participants Via the Internet is the minutes of the auction implementation made by the Auction Official which is an authentic deed and has perfect evidentiary power. Keywords: notary authority, creation of deeds, auction minutes DOI: 10.7176/JLPG/128-01 Publication date: January 31 st 2023