I study an auction format called penny auctions. In these auctions, every bid increases the price by a small amount, but it is costly to place a bid. The auction ends if more than some predetermined amount of time has passed since the last bid. Outcomes of real penny auctions are surprising:...

As auctions are becoming the main mechanism for selling advertisement space on the web, marketing agencies specialized in bidding in online auctions are proliferating. We analyze theoretically how bidding delegation to a common marketing agency can undermine both revenues and efficiency of the...

In online retailing or electronic retailing (or e-retailing, electronic commerce, Internet retailing, e-commerce), retailers offer their products and services over the Internet. Merchandise is thus presented in Internet shops. Customers usually place their orders via electronic checkouts or they...