Hogan, Seamus; Kidd, Hamish; Meriluoto, Laura; Smith, Andrew - Department of Economics and Finance, College of … - 2010
The Fixed Price Offer (FPO) mechanism in Trade Me auctions allows sellers to make a take-it-or-leave-it offer at the conclusion of an unsuccessful auction. We investigate the effects of the FPO option on strategies and outcomes in independent-value auctions. The FPO option induces some bidders...
