Seminars 2007— Abstracts
Friday February 2
Speaker: Keith Ord,
McDonough School of Business, Georgetown University
Paper 1 (Malaga, Montano, Ord and Porter): A Statistical Reputation Scoring Procedure for Online Auctions
Abstract: To handle
the uncertainty inherent in online auction transactions, reputation systems
have emerged as a way to represent reliability and develop trust between transaction
participants. Despite the value added by reputation systems, limitations of
existent systems remain. We develop a statistical model that provides a reputation
scoring procedure designed to address the shortcomings of current systems.
The system is illustrated using data from eBay.
Paper 2 (Ord and Porter): Reputation
Scoring for Online Auctions
Abstract: Most electronic auctions
are open-bid, where all the participants know the current highest bid. This
knowledge has led to a phenomenon known as sniping, whereby some bidders may
wait until the last possible moment before bidding, thereby depriving other
bidders of the opportunity to respond and also preventing sellers from obtaining
the highest price for an item. We develop a procedure involving a randomly
determined, yet finite, end-time, which eliminates the potential benefits
to a sniper. The scheme enables all bidders to compete on a more equal footing
and promotes an early bidding strategy, which is expected to increase the
price received by the seller.
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