The analysis of time-cost in online auction

Nowadays, auction has been widely acknowledged as an effective way to estimate value by market. As determined by the characteristic of the Internet, auction mechanism of online auction is inevitably distinct from the traditional auction. As a current auction, English auction is applied on auction Website, and the auction mechanism is combined with timing-auction and minimum-adding, but it ignores time issue, therefore this mechanism don´t suit for impatient bidders who have a high time-cost during the auction duration. The function of BUY IT NOW is always not a good solution for buyers because of higher trade price This article analyzes the effect of time-cost during the auction duration It also improves the traditional mechanism and optimize the resource distribution to suit impatient bidders.