signals, and make purchase decisions that are biased towards their initial choices. Using an incentive compatible auction …

cars and celebrity memorabilia. The internet auction site is remarkably easy to use, which accounts in part for its huge … lens of auction theory. The result is this book, in which Steiglitz shows us how human behaviors in open markets like eBay … outbids you in an auction's closing seconds, the early bidder who treats eBay as if it were an old-fashioned outcry auction …

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 the eBay auction format supports deviations from truthful bidding leading … to auction prices substantially below those expected in second-price auctions. Our results reveal that the observed price …