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Emerging behavior in electronic bidding

I. Yang·H. Jeong·B. Kahng·A. -L. Barabasi
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Abstract

We characterize the statistical properties of a large number of agents on two major online auction sites. The measurements indicate that the total number of bids placed in a single category and the number of distinct auctions frequented by a given agent follow power-law distributions, implying that a few agents are responsible for a significant fraction of the total bidding activity on the online market. We find that these agents exert an un-proportional influence on the final price of the auctioned items. This domination of online auctions by an unusually active minority may be a generic feature of all online mercantile processes.

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I. Yang, H. Jeong, B. Kahng, A. -L. Barabasi. 2003-01-27. Emerging behavior in electronic bidding. https://doi.org/10.1103/physreve.68.016102

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