The analysis of the efficiency of on-line auctions in Poland based on data coming from service Allegro.pl
The analysis of the efficiency of on-line auctions in Poland based on data coming from service Allegro.pl

Author(s): Anna Sroczyńska-Baron
Subject(s): Business Economy / Management, Financial Markets, ICT Information and Communications Technologies
Published by: Masarykova univerzita nakladatelství
Keywords: online auctions; efficiency; collectible market; Allegro.pl; stationary process;
Summary/Abstract: Nowadays online auctions become more and more popular. There are many participants, who buy different kinds of products every day. They have information of products and historical prices thanks to new technology and wide access to Internet. The main aim of this work is to check if on-line auction markets are still inefficient (like traditional auctions characterized by geographical fragmentation and limited access to information) and it is possible to gain abnormal profit. Data used in the researches come from one of the Polish biggest and oldest online auction market – Allegro.pl. The category Mobile Phones in Electronics was chosen for the researches. The on-line auction market efficiency was checked by two tests: a unit roots test and variance ratio test. Both tests showed that auctions during the examined period were inefficient. It could mean that it is possible to gain abnormal return with on–line auctions in Poland. Of course, individually participants of on–line auctions usually do not possess a significant amount of money but commonly pose very important market, that’s why it seems to be the important problem.

• Details
• Contents