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Price formation in a sequential selling mechanism
Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2005
This paper analyzes the trade of an indivisible good within a two-stage mechanism, where a seller first negotiates with one potential buyer about the price of the good. If the negotiation fails to produce a sale, a second 'price sealed' bid auction with an additional buyer is conducted. The...
Persistent link: https://www.econbiz.de/10010365906
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"Buy-It-Now" or "Sell-It-Now" auctions: Effects of changing bargaining power in sequential trading mechanisms
Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2015
We study experimentally the effect of bargaining power in sequential trading mechanisms that offer the possibility to …; whereas in the "Sell-It-No" format, it is the buyer. Both formats are extensively used in online and offline markets. Despite … very different strategic implications for buyers and sellers, results from our experiment suggest no effects of bargaining …
Persistent link: https://www.econbiz.de/10011380696
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"Buy-It-Now" or "Sell-It-Now" Auctions: Effects of Changing Bargaining Power in Sequential Trading Mechanisms
Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2015
We study experimentally the effect of bargaining power in two sequential mechanisms that offer the possibility to trade … at a fixed price before an auction. In the "Buy-It-Now" format, the seller has the bargaining power and offers a price … offline markets. Despite very different strategic implications for buyers and sellers, results from our experiment suggest no …
Persistent link: https://www.econbiz.de/10011420742
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Buy-It-Now prices in eBay Auctions - The Field in the Lab
Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2010
Electronic commerce has grown extraordinarily over the years, with online auctions being extremely successful forms of trade. Those auctions come in a variety of different formats, such as the Buy-It-Now auction format on eBay, that allows sellers to post prices at which buyers can purchase a...
Persistent link: https://www.econbiz.de/10010333716
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The High/Low Divide: Self- Selection by Values in Auction Choice
Ivanova-Stenzel, Radosveta; Salmon, Timothy C. - 2010
Most prior theoretical and experimental work involving auction choice has assumed bidders only find out their value after making a choice of which autcion to enter. In this paper we examine whether or not subjects knowing their value prior to making an auction choice impacts their choice...
Persistent link: https://www.econbiz.de/10010333724
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Revenue Equivalence Revisited
Ivanova-Stenzel, Radosveta; Salmon, Timothy C. - 2006
The conventional wisdom in the auction design literature is that first price sealed bid auctions tend to make more money while ascending auctions tend to be more efficient. We re-examine these issues in an environment in which bidders are allowed to endogenously choose in which auction format to...
Persistent link: https://www.econbiz.de/10010333747
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Anomalies in Auction Choice Behavior
Ivanova-Stenzel, Radosveta; Salmon, Timothy C. - 2006
Ivanova-Stenzel and Salmon (2004a) established some interesting yet puzzling results regarding bidders' preferences between auction formats. The finding is that bidders strongly prefer the ascending to the first price sealed bid auction on a ceteris paribus basis but they are not willing to pay...
Persistent link: https://www.econbiz.de/10010333800
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How eBay Sellers set 'Buy-it-now' prices - Bringing The Field Into the Lab
Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2006
In this paper we introduce a new type of experiment that combines the advantages of lab and field experiments. The experiment is conducted in the lab but using an unchanged market environment from the real world. Moreover, a subset of the standard subject pool is used, containing those subjects...
Persistent link: https://www.econbiz.de/10010333933
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Price formation in a sequential selling mechanism
Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2005
This paper analyzes the trade of an indivisible good within a two-stage mechanism, where a seller first negotiates with one potential buyer about the price of the good. If the negotiation fails to produce a sale, a second 'price sealed' bid auction with an additional buyer is conducted. The...
Persistent link: https://www.econbiz.de/10010333988
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How do sellers benefit from Buy-It-Now prices in eBay auctions?
Ivanova-Stenzel, Radosveta; Grebe, Tim; Kröger, Sabine - 2019
We investigate experimentally on eBay how sellers set prices in "Buy-It-Now" (BIN) auctions. We find that the eBay format leads to prices substantially below those expected in second-price auctions. Moreover, our results reveal that the information available on eBay about buyer experience and...
Persistent link: https://www.econbiz.de/10012099168