Empirical Analysis On Bidders' Jumping Bidding Strategy And Its Influencing Factors In Online Auction

As an important transaction form of E-commerce,online auction has become a new trading mechanism favored by merchants and consumers.The online auction platforms,such as foreign eBay,uBid,Auction Zip,etc.,as well as domestic Chinese Collection Hotlines,Grtrade Online,Taobao Auction,etc.,have become more and more developed,attracting a large number of bidders,and the volume of transactions has taken the lead in e-commerce transactions.The services provided by the seller and the auction platform are more personalized under the huge transaction volume,and the bidders' participation in the auction also shows diversity.Among them,jump bidding is the most typical bidding method that has an increasing particularity.The bidder's choice of the jump quotation has a non-negligible influence on the auction result,which affects the seller's auction proceeds and the proceeds obtained by the bidder winning the auction.Therefore,exploring the types of bidders' bidding strategies and revealing the factors that influence their choice of jumping strategies can provide effective suggestions for bidders' quotations,sellers' optimization of auction information,and auction websites to improve service levels.The literature has explained the motives of bidders' jump bidding,and gave three different models: signaling model,impatience model and strategic model.Based on the three different interpretation models,This paper collects auction data with jumping quotation behavior from the China Collection Hotline,the timing of the bidders taking the jump quotation,the hopping quotation range,the number of hopping quotations and the total bid of the hopper in this auction.Starting from the four dimensions of the number of times,the bidding quotation record is analyzed by the elbow method for K-means cluster analysis,impulsive,competitive and sniper three different jump bidding strategies are identified.Then based on the relevant theory,the author puts forward the assumption that the three factors of the auction rules,the seller's qualification and the auction attribute information have the influence of the bidder's choice of the jump bidding strategy.Finally,the Mlogit model is used for empirical analysis according to the theoretical assumption.The auction rules significantly positively affect the bidder's tendency to choose the sniper-type strategy;at the same time,the seller's qualification significantly positively affects the bidder's tendency to choose a competitive-type strategy;and the auction's attribute information significantly positively affects the bidder's tendency to choose an impulsive-type strategy.