Author/Authors :
BOZ ULUTAŞ, Elif Uludağ Üniversitesi - Sosyal Bilimler Enstitüsü, Turkey , BOZTOPRAK, Hasan Uludağ Üniversitesi - Sosyal Bilimler Enstitüsü, Turkey , GÖKAY EMEL, Gül Uludağ Üniversitesi - Sosyal Bilimler Enstitüsü - İşletme Anabilim Dalı, Turkey
Title Of Article :
A DUTCH AUCTION METHOD ANALYSIS AND MARKOV CHAIN APPLICATION ON WEB BASED USED-CAR MARKET
Abstract :
In this age internet is used as a market platform in which buyers and sellers convene and the price is transparently shared with everyone. The Dutch auction builds up a substantial marketing mechanism particularly for the sale of products which have durability problems. The pricing mechanism in which appeared in web based sales of second hand cars and Dutch auction overlap when some circumstances are considered. On the other hand, in regard to future situation the Markov chain that enables the estimation with sizably limited data makes it possible to analyze the Dutch auction mechanism mathematically. Designed Markov model indicates that price-cutting in web based sales of second hand cars will end after a few times.
NaturalLanguageKeyword :
Dutch Auction , Markov Chains , Used , Car Market.
JournalTitle :
dokuz eylul university the journal of graduate school of social sciences
