DESIGN AND IMPLEMENTATION OF AN ONLINE AUCTIONING AND BIDDING SYSTEM
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DESIGN AND IMPLEMENTATION OF AN ONLINE AUCTIONING AND BIDDING SYSTEM
INTRODUCTION
Background for the Study
A few decades later, auctions were held in auction houses, with the auctioneer delegating bids. This approach required the bidders’ personal presence, which resulted in a variety of limitations.
This led to the usage of online auctioning, which allows auctions to be conducted via the internet from anywhere in the world. The introduction of online auctions brings with it a number of disadvantages, including a lack of effective product and seller evaluation tools. The current systems do not allow for an accurate definition of the types of merchants and the products they sell.
These methods do not provide sufficient precise information to assess the type of vendor and their products. This creates buyer confusion, reducing the efficacy of online auctions and leading individuals to choose physical auction systems.
Most existing auction systems do not give comprehensive product descriptions or thoroughly evaluate the various types of sellers who engage in the auctioning process. Online systems are based on a background in which there is no comprehensive review of the shilling actions that occur in various auction systems.
The evaluation of shilling actions goes a long way towards offering certainty in the various types of sellers. This can be accomplished by assigning shill scores or ratings to each seller in an auction system. By revealing the seller’s shill rating, bidders may simply choose which sellers to bid on for their products.
The global reach of online auction sites enables buyers and sellers to bypass geographical barriers and purchase things from anywhere on the internet. In comparison to traditional offline markets, the online auction market offers consumers significant benefits such as lower pricing, a wider product range, and higher efficiency (Ghose, 2006).
The usage of an online auction system uses a decision-making help tool, which increases consumer confidence in their choice of seller and product. The decision-making help tool is divided into three parts: product information signals, seller ratings, and seller shilling behaviours.
Product information signals aim to thoroughly describe the product through the use of text and pictures, third-party product certifications, product attributes, product usage, and book value. This tries to provide the buyer with product certainty.
The decision-making aid tool also provides seller ratings based on feedback scores. Previous winning bidders provide feedback, which is used to evaluate online auction goods sellers.
These bidders provide extensive seller ratings of all elements of the seller and assign scores, such as how accurate the item description was, how satisfied they were with the seller’s communication, and how fast the products were delivered to them by the seller.
Another crucial part of the decision-making tool is the method of calculating seller shill ratings. Shilling is the act of entering bogus bids into an auction on the seller’s behalf in order to artificially boost the price of an item (Weinberg, 2003).
To determine shill rating, the algorithm observes shill behaviour characteristics, which include bidders that make a large number of rejected bids on the same seller. Shills typically have a greater unsuccessful bid per seller ratio.
The auction house keeps track of how many bids a bidder has put for each seller with whom they have communicated. This information is used to generate a shill score.
The detailed evaluation of the product and seller, as well as the usage of the decision-making support tool, guarantees that consumers are confident in their choice of sellers and items.
Statement of the Problem
The difficulty that normally occurs in a normal congregational meeting to auction is that people will have to leave their various residences to auction, which poses a significant risk of arm robbery and other types of attacks after bidding (Pavlou, 2008).
During the auctioning process, disputes can emerge in the midst of the crowd, causing another issue in the house. People do not have enough time to wait through auctions.
But despite the increased numerous advantages of online auction, there are problems that are still present in some online auction and bidding systems out there.
Unlike in offline markets where buyers can physically evaluate the product quality and interact directly with the sellers, in online markets the buyers do not have such opportunity because the buyers only get to evaluate the product quality via the internet interface, which cannot perfectly describe the products (Melnik, 2 The problem of product and seller uncertainty has a detrimental impact on the key success of online auction outcomes.
The introduction of an online auction system that includes extensive seller and product descriptions increases bidders’ confidence in their product and seller selections.
Aims and Objectives of the Study
To design and construct an online auction system that ensures the buyer’s trust in the vendors and the objects being auctioned.
To calculate the seller’s ratings based on feedback scores from bid winners.
Generate reports for each completed bid in the auction system.
To alert bidders of new bids placed in the bids in which they participate.
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