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Tuesday, 6 February 2018

Auction on Assets


Auction on Assets

ABSTRACT
Auctions are among the oldest economic institutions in place. They have been used since antiquity to sell a wide variety of goods, and their basic form has remained unchanged. In this dissertation, we explore the efficiency of common auctions when values are interdependent- the value to a particular bidder may depend on information available only to others-and asymmetric. In this setting, it is well known that sealed-bid auctions do not achieve efficient allocations in general since they do not allow the information held by different bidders to be shared.
Typically, in an auction, say of the kind used to sell art, the auctioneer sets a relatively low initial price. This price is then increased until only one bidder is willing to buy the object, and the exact manner in which this is done varies. In my model a bidder who drops out at some price can “reenter” at a higher price.
With the invention of E-commerce technologies over the Internet the opportunity to bid from the comfort of one’s own home has seen a change like never seen before.  Within the span of a few short years, what may have began as an experimental idea has grown to an immensely popular hobby, and in some cases, a means of livelihood, the online auction gathers tremendous response every day, all day.  With the point and click of the mouse, one may bid on an item they may need or just want, and in moments they find that either they are the top bidder or someone else wants it more, and you’re outbid!  The excitement of an auction all from the comfort of home is a completely different experience.
The levels of comfort may rise in the near future but the rules to be followed remain the same. Infact may rise with the new technologies.
Society cannot seem to escape the criminal element in the physical world, and so it is the same with online auctions.  This is one area where in a question can be raised as to how safe online auctions.
INTRODUCTION & OBJECTIVES
The project is mainly aimed at automate the bidding process. In Auction automation the administrator is going to control the system, here he can add the categories of products or assets. Initially administrator will give minimum bid cost of the asset and other details like its category, name, bid date etc. Now the member of the system can see the initial bid details of that product, so that he can give his bid details just by clicking in its name.
Finally the administrator will check all the bids by login into the system. The member who has given the highest value will become the winner of the bidding process.
PURPOSE OF THE PROJECT
The proposed system should serve the following feature:
  • Automate the communication between the bidder and the admin.
  • Adding the categories. Ex: Real Assets, Systems, Arts etc.
  • Inserting bid under particular category.
  • Provide updated details of the bids.
  • Obtain the winner of bidding process.
PROBLEM IN EXISTING SYSTEM
  • In existing system, the bidder sends his bid details manually not through online.
  • New bid information cannot reach the bidder early. It should reach only via by news papers.
SOLUTION OF THESE PROBLEMS
So to avoid the problems in existing system, we have developed Auction on Assets application by introducing some more features.
  • Providing information about the bid though online to the member.
  • Giving permission to the member to bid on a particular product.
  • Evaluating the member bids by the admin.
STUDY OF THE SYSTEM
GUI’S
In the flexibility of the uses the interface has been developed a graphics concept in mind, associated through a browses interface. The GUI’S at the top level have been categorized as
  1. Administrative user interface
  2. The operational or generic user interface
The administrative user interface concentrates on the consistent information that is practically, part of the organizational activities and which needs proper authentication for the data collection. The interfaces help the administrations with all the transactional states like Data insertion, Data deletion and Date updating along with the extensive data search capabilities.
The operational or generic user interface helps the users upon the system in transactions through the existing data and required services. The operational user interface also helps the ordinary users in managing their own information helps the ordinary users in managing their own information in a customized manner as per the assisted flexibilities.
NUMBER OF MODULES
Admin
• Administrator enters into the system by providing his login id and password
• Adding a new category to the system
• Requesting bids on asset of a category
• Evaluating  all the posted bids given by the registered members
• Removing permission to a member
• Viewing all the posted bid information
• Viewing registered member information
• Change of password
Member
• Member enters into the system by providing his login id and password
• Member can view all the bids requested by the admin
• He can post a bid with his own bid value which is greater than actual bid cost.
• Modifying self data.
• Change of password
Hardware requirements

Content
Description
HDD
20 GB Min
40 GB Recommended
RAM
1 GB Min
2 GB Recommended
Software requirements

Content
Description
OS
Windows XP with SP2 or Windows Vista
Database
MS-SQL server 2005
Technologies
ASP.NET with C#.NET
IDE
Ms-Visual Studio .Net 2008
Browser
IE

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