Modeling Online Auctions / Statistics in Practice (PDF)

Explore cutting-edge statistical methodologies for collecting,
analyzing, and modeling online auction data

Online auctions are an increasingly important marketplace, as
the new mechanisms and formats underlying these auctions have
enabled the capturing and recording of large amounts of bidding
data that are used to make important business decisions. As a
result, new statistical ideas and innovation are needed to
understand bidders, sellers, and prices. Combining methodologies
from the fields of statistics, data mining, information systems,
and economics, Modeling Online Auctions introduces a new approach
to identifying obstacles and asking new questions using online
auction data.

The authors draw upon their extensive experience to introduce
the latest methods for extracting new knowledge from online auction
data. Rather than approach the topic from the traditional
game-theoretic perspective, the book treats the online auction
mechanism as a data generator, outlining methods to collect,
explore, model, and forecast data. Topics covered include:

* Data collection methods for online auctions and related issues
that arise in drawing data samples from a Web site

* Models for bidder and bid arrivals, treating the different
approaches for exploring bidder-seller networks

* Data exploration, such as integration of time series and
cross-sectional information; curve clustering; semi-continuous data
structures; and data hierarchies

* The use of functional regression as well as functional
differential equation models, spatial models, and stochastic models
for capturing relationships in auction data

* Specialized methods and models for forecasting auction prices
and their applications in automated bidding decision rule
systems

Throughout the book, R and MATLAB software are used for
illustrating the discussed techniques. In addition, a related Web
site features many of the book's datasets and R and MATLAB code
that allow readers to replicate the analyses and learn new methods
to apply to their own research.

Modeling Online Auctions is a valuable book for graduate-level
courses on data mining and applied regression analysis. It is also
a one-of-a-kind reference for researchers in the fields of
statistics, information systems, business, and marketing who work
with electronic data and are looking for new approaches for
understanding online auctions and processes.

Visit this book's companion website by clicking href="http://modelingonlineauctions.com/">here