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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
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Sequential Contests with Incomplete Information : Theory and Experimental Evidence
Brookins, Philip; Matros, Alexander; Tzachrista, Foteini - 2022
In this paper, we investigate behavior in two-player sequential-move contests with complete and incomplete information about the value of the prize, theoretically and experimentally. First, we describe a Bayesian equilibrium of a sequential contest in which both players have private prize...
Persistent link: https://www.econbiz.de/10014237552
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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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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
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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
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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/10003935655
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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 … experiment to study seller behavior in online auctions with a Buy-It-Now feature, where early potential bidders have the …
Persistent link: https://www.econbiz.de/10010365897
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The impact of the irrelevant : temporary buy-options and bidding behavior in auctions
Peeters, Ronald; Strobel, Martin; Vermeulen, Dries; … - In: Games 7 (2016) 1, pp. 1-19
With a laboratory experiment, we study the impact of buy-options and the corresponding buy-price on revenues and …
Persistent link: https://www.econbiz.de/10011453215
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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
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Majoritarian contests with asymmetric battlefields : an experiment
Montero, María; Possajennikov, Alexandre; Sefton, Martin; … - 2013
choices from a laboratory experiment. The equilibrium predicts that the large battlefield receives more than a proportional …
Persistent link: https://www.econbiz.de/10010224988