Sentiment in Online Car Auctions Open Access

Peng, Francis (Spring 2023)

Permanent URL: https://etd.library.emory.edu/concern/etds/kw52j946d?locale=en
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Abstract

Existing literature has discussed "sentiment" as an important component of various economic settings such as asset markets or macroeconomic models, but empirical work which investigates sentiment in an auction market has not yet been done. This work investigates the effect of sentiment on the final price of online car auctions. Sentiments of messages displayed in the comments section of auction webpages are defined and quantified by a natural language processing (NLP) sentiment analysis model. It is found that sentiment score has a positive effect on the final price of an auction, but more work may need to be done in order to determine the true causal qualities of the messages which are hidden behind the sentiment.

Table of Contents

1) Introduction

2) Data

3) Methodology

3.1) Sentiment Analysis

3.1.1) Verification of Accuracy

3.2 Regression Analysis

4) Results

4.1) Robustness and Sparsity

5) Discussion

5.1) GPT

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