Design and prototypical implementation of an online auction system: 'Farmer’s Market' an online market for farmer and trader
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Effective market information systems can help to reduce information asymmetries, increase competitiveness, and improve efficiency in the marketing system. In Bangladesh, these aspects of agriculture have been very much neglected. As a consequence, the small farmers do not get proper price for their products, whereas, he middlemen get the lion's share of benefit. Thus, lack of dissemination of market information and the bargaining capability of the farmers across the agricultural supply chain is a major concern in Bangladesh. Since increased mobile penetration will help in up scaled access of Voice & Data, mobile banking, Agri-service - through mobile phones are expected to rise etc which provides with the new opportunities and challenges for agricultural product marketing. The “Farmer’s Market” online auction marketplaces will allow for the buyers(farmers) and sellers to overcome geographical constraints and purchase and sell products anytime from anywhere over the internet. Farmer`s market provides the buyer and seller with great advantages of appropriate prices, greater product selection opportunity, and greater efficiency compared to the usual traditional offline markets.