(Statistics in Practice Book 76) 1st Edition
by Wolfgang Jank (Author), Galit Shmueli (Author)
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.
