Efficient Bid Pricing Based on Costing Methods for Internet Bid Systems

  • Sung Eun Park
  • Yong Kyu Lee
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 4255)


Internet bid systems are being widely used of late. In these systems, the seller sets the bid price. When the bid price is set too high compared with the normal price, chances of a successful bid may decrease. When it is set too low, however, based on inaccurate information, it can result in a successful bid yet one with no profit at all. To resolve this problem, an agent is proposed that automatically generates bid prices for sellers based on the similarity of the bidding parameters using past bidding information as well as on various costing methods such as the high-low point method, the scatter diagram method, and the learning curve method. Performance experiments have shown that the number of successful bids with appropriate profits can be increased using the bid pricing agent. Among the costing methods, the learning curve method has shown the best performance. The manner of designing and implementing the bid pricing agent is also discussed.


Recommendation System Scatter Diagram Average Profit Variable Unit Cost Internet Shopping Mall 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer-Verlag Berlin Heidelberg 2006

Authors and Affiliations

  • Sung Eun Park
    • 1
  • Yong Kyu Lee
    • 2
  1. 1.Department of Computer EngineeringDongguk University 
  2. 2.Department of Computer EngineeringDongguk UniversitySeoulRepublic of Korea

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