Analysis of the Effect of the Number of Bidders and Bidding Process on the End Price in a B2B Online Auction

Internet auctions are used in a variety of domains, from C2C to B2B. The bidding behavior and bidding process in C2C auctions for a single product have been studied previously; however, the nature of B2B auctions is unclear due to the inaccessibility of data. This study investigated the relationship between the number of bidders and the degree of price increase. Moreover, by using the time-series clustering method, we classified the bidding process of B2B auctions with an extensive range of prices and clarified whether the bidding process affects end prices. We found that the number of bidders and the degree of price increase were proportional to each other. Moreover, the time of the day when the price increases does not significantly impact the end price. Increasing the number of bidders per item in B2B auctions reduce opportunity loss for participants and auctioneers.