Auctions are nowadays a popular and frequently employed market mechanism in electronicmarkets. In economic literature, the success of electronic auctions has been largelyattributed to the reduction of transaction costs, the large number of potential buyers,and the independence of time and space....

The long tail phenomenon has been heavily discussed in recentyears. What has been neglected so far is its striking relevance forelectronic services. Whereas consumers expectations about informationgoods are often vague and transient, their requirements are pronouncedand specific when it comes to...