Design And Implementation Of An Online Auctioning And Bidding System

1.3 Aims and Objectives of the Study

i. To design and develop an online auction system that ensures  the buyer’s on the sellers and the products that are being auctioned 

ii. To  computes  the seller’s ratings using the feedback scores from the bid winners

iii. To generate reports for each completed bid in the auction system

iv. To notify the bidders of new bids made in the bids that they participate in.

v. To computes the seller’s shill scores for each seller that sells products on the online auction system.

1.4 Justification of the Study

The use of online auction systems that do not allow for full effective product description and failure to provide decision making assistance tools to online bidders results in increased product and sellers uncertainty. The buyer’s uncertainty towards product and seller makes it difficult for the buyers to differentiate between the good and bad sellers; the lack of differentiation may force higher quality sellers to leave the market since their quality products do not signal and reward with fair prices thus reducing transaction activity (Dimoka, 2008).

What this new system is trying to accomplish is to create a higher level of buyer’s certainty on the type seller and products that they choose to make bids for. Through the use of effective information like the use of visual and textual product description, third party product certification, product book value and product usage. The successful implementation of this project results in an online auction system that allows evaluation of the product that is far much effective and that come close or equal the physical evaluation of the product.

1.5 Definition of Terms

Auction: An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder (McAfee et al, 1987),

Biding: A provision in a trade agreement that no tariff rate higher that one specified in the agreement will be imposed during the life of the agreement (globalnegotiator.com, 2017).

Online: connected to, served by, or available through a system and especially a computer or telecommunications system (such as the Internet) (merriam-webster, 2017).

MySql: is an open-source relational database management system (RDBMS) (Oracle, 2012).

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.

Oracle (2012). “The official way to pronounce “MySQL” is “My Ess Que Ell” (not “my sequel”)”. Retrieved 17 September 2012.

Pavlou (2008), “The problem that usually arises in online auction”.

Weinberga D. (2006), “Exploring the WOW in online-auction feedback” [accessed 18 November 2014].