Design and Implementation of an Online Auctioning and Bidding System
INTRODUCTION
A few decades down the line, auctions were carried in auction houses and the bids were made with the auctioneer delegating the bids and this method required the physical presence of the bidders, thus it resulted in a number of limitations.
This led to the use of online auctioning which allow for the auctions to be carried out over the internet from anywhere in the world.
The advent of online auctions presents on its own, different downsides due to the lack of proper evaluation techniques of the products and the sellers.
The current systems do not allow for proper description of the kind of sellers and the kind of products that they sell. These systems do not provide enough detailed information to evaluate the type of sellers and their products.
This result in the buyers uncertainty thus resulting in the reduced effectiveness of the online auctions making people opt for offline auction markets.
Statement of the Problem
The problem that usually arises in the normal congregational gathering to auction is that there people will have to leave their various homes to auction and this is a big risk to which might lead to Arm robbing and other various attacks after biding (Pavlou, 2008).
In the process of auctioning, at times dispute arises in the mist of the people which also leads to another problem in the house.
People do not have enough time to sit for auctioning. But despite the increased numerous advantages of online auction there are problems that are still present in some online auction and biding system out there, unlike in offline markets where buyers can physically evaluate the product quality.
References
Dimoka, A.(2008), Understanding and Mitigating Product Uncertainty in Online Auction Marketplaces [accessed 18 November 2014].
Ghose (2006), “The online auction market provides the consumers with great advantages of low prices”.
globalnegotiator.com (2017). “Definition of Biding”. http://www.globalnegotiator.com/inte rnational-trade/dictionary/biding/
McAfee, Dinesh Satam; McMillan, Dinesh (1987), “Auctions and Bidding” (PDF), Journal of Economic Literature, American Economic Association (published June 1987), 25 (2), pp. 699–738, JSTOR 2726107, retrieved 2008-06-25.
Melnik (2005), “The problem of product and the seller’s uncertainty negatively affects the key success of the outcomes of the online auctions.”.
Merriam-Webster (2017) “Definition of Online”. https://www.merriam-webster.com/ dictionary/online.
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