Abstract
Despite the existence of research in the field of electronic reverse auctions (eRAs), there is still a limited understanding of the determinants of auction savings that exist in this process, especially factors that can change information asymmetry during auctions. In comparison with other studies, attempts have been made to test the effects of various levels of information asymmetry through the prolongation of auctions and through changes to minimum bid amounts on auction results, as well as other modifiable variables. More than 11,000 eRAs were analysedusing data from a leading auction platform in Central Europe. The application of the Mann–Whitney–Wilcoxon test on data divided by medians of analyzed variables has been confirmed as a valid method for verifying the significance of the developed conceptual model relationships. While confirming several relations indicated by laboratory experiments and other studies, several findings to the contrary of the expected relationships were also confirmed.
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Acknowledgements
This contribution was supported by the Slovak Research and Development Agency within the Project APVV-16-0368 “Determinants of Digital Single Market development and implementation in the field of global supply chains and in relation to changes of behavior of participants on the market” and by the Ministry of Education, Science, Research and Sport of the SR within the Project VEGA - 1/0794/18 “Development of methodological platform for evaluation of efficiency in the financial and non-financial sector”.
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Appendix: Density distribution of pairwise tested relationships
Appendix: Density distribution of pairwise tested relationships
See Fig. 6.
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Dráb, R., Štofa, T. & Delina, R. Analysis of the efficiency of electronic reverse auction settings: big data evidence. Electron Commer Res 22, 427–450 (2022). https://doi.org/10.1007/s10660-020-09433-0
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DOI: https://doi.org/10.1007/s10660-020-09433-0