Hogan, Seamus; Kidd, Hamish; Meriluoto, Laura; Smith, Andrew - In: New Zealand Economic Papers 45 (2011) 3, pp. 255-271
The fixed-price-offer (FPO) mechanism in <italic>Trade Me</italic> auctions allows sellers to make a take-it-or-leave-it offer at the conclusion of an unsuccessful auction. Weinvestigate the effects of the FPO option on strategies and outcomes in independent-value auctions. The FPO option induces some bidders...