Ariely, Dan; Ockenfels, Axel; Roth, Alvin E. - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2002
A great deal of late bidding has been observed on internet auctions such as ebay, which employ a second price auction … employ similar auction rules, but use an ending rule that automatically extends the auction if necessary after the scheduled … close until ten minutes have passed without a bid. This paper reports an experiment that allows us to examine the effect of …