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Risk, reward and uncertainty in buyer-seller transactions : the seller's view on combining posted prices and auctions

Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2023

In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature almost exclusively looks at buyers in such combined mechanisms, the current paper summarizes results from the sellers' point of view. Buy-It-Now auctions are complex mechanisms...

Persistent link: https://www.econbiz.de/10014477420

Inefficiency in private value bargaining with naive players : an experimental study

Possajennikov, Alexandre; Saran, Rene - 2018

The paper reports on an experiment on two-player double-auction bargaining with private values. We consider a setting … no equilibrium achieving full efficiency. In the experiment, we vary the proportion of naive traders by introducing … computerized players. We find that full efficiency is not achieved in the experiment with or without naive traders, and efficiency …

Persistent link: https://www.econbiz.de/10011852503

Contracting for infrastructure projects as credence goods

Dulleck, Uwe; Li, Jianpei - 2011

Persistent link: https://www.econbiz.de/10009405952

Contracting for infrastructure projects as credence goods

Dulleck, Uwe; Gong, Jiong; Li, Jianpei - In: Journal of public economic theory 17 (2015) 3, pp. 327-345

Persistent link: https://www.econbiz.de/10011350164

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

Buy-it-Now prices in eBay auctions : the field in the lab ; conference paper

Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2014

In eBay s Buy-it-Now auctions sellers can post prices at which buyers can purchase a good prior to an auction. We study how sellers set Buy-it-Now prices when buyers have independent private values for a single object for sale. We test the predictions of a model by combining the real auction...

Persistent link: https://www.econbiz.de/10010491157

How do sellers benefit from buy-it-now prices in Ebay auctions? : an experimental investigation

Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2018

In Buy-It-Now (BIN, hereafter) auctions, sellers can make a "take-it-or-leave-it" price offer (BIN price) prior to an auction. We analyse experimentally how eBay sellers set BIN prices and whether they benefit from offering them. Using the real eBay environment in the laboratory, we find that...

Persistent link: https://www.econbiz.de/10011902715

How do sellers benefit from Buy-It-Now prices in eBay auctions?

Grebe, Tim; Ivanova-Stenzel, Radosveta; 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/10012309640

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/10003935655

Auctions with endogenous price ceiling : theoretical and experimental results

Veszteg, Robert F.; Akai, Kenju; Saijō, Tatsuyoshi; … - 2009

This paper analyzes an auction mechanism that excludes overoptimistic bidders inspired by the rules of the procurement auctions adopted by several Japanese local governments. Our theoretical and experimental results suggest that the endogenous exclusion rule reduces the probability of suffering...

Persistent link: https://www.econbiz.de/10003921779

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