Targeting the strategies of a bid sniper
View/ Open
File version
Accepted Manuscript (AM)
Author(s)
Trevathan, J
Read, W
Lee, YJ
Atkinson, I
Griffith University Author(s)
Year published
2011
Metadata
Show full item recordAbstract
Bid sniping is a dubious practice used in online auctions whereby a bidder makes a bid in the closing moments in an attempt to deny other bidders time to react. The primary goal for a bid sniper is to win the auction for the lowest price possible, without the risk of being forced into submitting any higher bids if there is competition for the item. This paper investigates the phenomenon of bid sniping and its prevalence in commercial online auctions. We seek to show the extent of bid sniping, understand the rationale of why it occurs, what effect this has on the other auction participants, and what can be done to prevent the ...
View more >Bid sniping is a dubious practice used in online auctions whereby a bidder makes a bid in the closing moments in an attempt to deny other bidders time to react. The primary goal for a bid sniper is to win the auction for the lowest price possible, without the risk of being forced into submitting any higher bids if there is competition for the item. This paper investigates the phenomenon of bid sniping and its prevalence in commercial online auctions. We seek to show the extent of bid sniping, understand the rationale of why it occurs, what effect this has on the other auction participants, and what can be done to prevent the practice. Based on this understanding, we present a software bidding agent that follows a bid sniping strategy. The agent has the ability to suppress an auction's price through knowing when to bid, how much to bid, how to deal with rivals, and when to cease bidding. We also propose a new online auction format that can eliminate/reduce the effect of bid sniping. The proposal adds an undisclosed random time-out extension to an auction's finishing time to entice bidders to bid their maximum amount immediately or risk being excluded from the auction.
View less >
View more >Bid sniping is a dubious practice used in online auctions whereby a bidder makes a bid in the closing moments in an attempt to deny other bidders time to react. The primary goal for a bid sniper is to win the auction for the lowest price possible, without the risk of being forced into submitting any higher bids if there is competition for the item. This paper investigates the phenomenon of bid sniping and its prevalence in commercial online auctions. We seek to show the extent of bid sniping, understand the rationale of why it occurs, what effect this has on the other auction participants, and what can be done to prevent the practice. Based on this understanding, we present a software bidding agent that follows a bid sniping strategy. The agent has the ability to suppress an auction's price through knowing when to bid, how much to bid, how to deal with rivals, and when to cease bidding. We also propose a new online auction format that can eliminate/reduce the effect of bid sniping. The proposal adds an undisclosed random time-out extension to an auction's finishing time to entice bidders to bid their maximum amount immediately or risk being excluded from the auction.
View less >
Conference Title
2011 44th Hawaii International Conference on System Sciences
Copyright Statement
© 2011 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.