Associate Professor Ravi Bapna will present a keynote address at the 13th International Conference on Electronic Commerce (ICEC) in Liverpool Thursday, August 4.
Bapna, the Board of Overseers Professorship in Information and Decision Sciences, will present "So How Much Are You Really Willing to Pay for that Manolo Blahnik? Reflections on the Welfare Implications of Internet Auctions." Looking back on his decade of research on Internet auctions, Bapna will share various attempts at modeling and empirically and experimentally analyzing their welfare implications.
While outcomes for sellers, as embodied in auction prices, have been the traditional focus of analytical and empirical online auction research, Bapna focuses on the welfare implications for buyers. Such "consumer surplus" measures are hard to estimate as most mechanisms are designed not to reveal individuals' valuations. He will share both relative and absolute measures in multi-unit and single-unit auctions respectively. A key breakthrough in deriving relative measures in the context of multi-unit auctions was to empirically derive a stable taxonomy of bidding strategies.
ICEC annually brings together the leaders of the scientific research community in e-commerce and e-business from all over the world. This year's theme is "Mobile and Pervasive Commerce" and the conference aims to facilitate the dialogues among experts in academic and industries to exchange insights in related issues, and hopefully boost up research momentum across disciplines to contribute to mobile and pervasive commerce for the e-commerce community.