{
  "annotation_id": "5f0c085d-e163-4b6a-b384-6e94c6848f37",
  "date_created": "2026-03-02T18:01:03.539000Z",
  "date_modified": "2026-03-02T18:01:03.539000Z",
  "file_hash": "1ad44519e2b4f9fda666ec6bf003be5999565fe69e5d1108361f83ecbdb32202",
  "private": false,
  "record": {
    "abstract": "Online auctions have expanded rapidly over the last decade and have become a\nfascinating new type of business or commercial transaction in this digital era.\nHere we introduce a master equation for the bidding process that takes place in\nonline auctions. We find that the number of distinct bidders who bid $k$ times,\ncalled the $k$-frequent bidder, up to the $t$-th bidding progresses as\n$n_k(t)\\sim tk^{-2.4}$. The successfully transmitted bidding rate by the\n$k$-frequent bidder is obtained as $q_k(t) \\sim k^{-1.4}$, independent of $t$\nfor large $t$. This theoretical prediction is in agreement with empirical data.\nThese results imply that bidding at the last moment is a rational and effective\nstrategy to win in an eBay auction.",
    "arxiv_id": "physics/0511073",
    "authors": [
      "I. Yang",
      "B. Kahng"
    ],
    "categories": [
      "physics.soc-ph",
      "cond-mat.stat-mech"
    ],
    "doi": "10.1103/PhysRevE.73.067101",
    "title": "Bidding process in online auctions and winning strategy:rate equation   approach",
    "url": "https://arxiv.org/abs/physics/0511073"
  },
  "schema_id": "dorsal/arxiv",
  "source": {
    "execution_id": "56f7ebf8-688f-464e-93d2-83a1c828c351",
    "id": "arXiv Dataset IDs",
    "type": "Model",
    "variant": "snapshot-2026-03-01",
    "version": "0.1.0"
  },
  "user_id": 1000002
}