Study About Factors On Online Auction Outcomes In Internet Commerce From The Bidder Perspective

Internet Commerce has experienced a rapid progress is the last half decade. Due to its advantage in breaking through the restraints of materials,time and space in International trade, it has changed the pattern of international trade and played a more and more important role in international trade. Besides, Internet Commerce has made information industry play a more important role in gaining comparative advantage. Exploring the internal mechanism may help gain more comparative benefits. To this end, this paper studies Online auction, one kind of the Internet Commerce, to find laws of the complex phenomenon in Internet Commerce.Online auctions have received a considerable amount of attention from researchers. Nonetheless, existing work has mainly focused on the role of the seller in online auctions. And to examine the role of the bidder, more often than not only one factor would be considered in an article. Using the tool of structural equation modeling, we propose a model which investigates how particular bidder features impact two important outcomes:number of bids and final closing price. This may help explain phenomena in online auctions, and is the first step towards the comprehensive theory of online auctions.After analyzing the data from the online auction net called Kongfuzi, we find that, from the perspective of the bidder, proxy bidding strategy and number of bidders are factors influencing number of bids, and jumping bidding strategy and number of bidders are factors affecting final closing price. But bidder experience has nothing to do with online auction outcomes. This article is also support the idea that initial bid price is positively related to final closing price.