Showing 1 - 10 of 341
We present evidence from 260,000 online auctions of second-hand cars to identify the impact of public reserve prices on … price than those of the average bidder, suggesting auction winners are not the marginal entrant. -- auctions ; regression …
Persistent link: https://www.econbiz.de/10008688876
We study experimentally the effect of bargaining power in sequential trading mechanisms that offer the possibility to trade at a fixed price before an auction. In the "Buy-It-Now" format, the seller offers a price prior to the auction; whereas in the "Sell-It-No" format, it is the buyer. Both...
Persistent link: https://www.econbiz.de/10011309645
Along the standard measures of price dispersion, this paper proposes a new method, the residual variance model, to examine the levels of price and price variation within and across 10 kinds of physically identical products on eBay UK. The results find that the price levels and price dispersions...
Persistent link: https://www.econbiz.de/10011523675
We analyze sequential Dutch and Vickrey auctions where risk averse, or risk preferring, bidders may have heterogeneous … risk exposures. We derive and characterize a pure strategy equilibrium of both auctions for arbitrary number of identical … the Vickrey sequential auctions. In particular, the "declining price anomaly" is perfectly consistent with nonincreasing …
Persistent link: https://www.econbiz.de/10010421803
In eBay s Buy-it-Now auctions sellers can post prices at which buyers can purchase a good prior to an auction. We study … prices below those expected in second price auctions. Our proposed extension of the model results not only in a better fit of …
Persistent link: https://www.econbiz.de/10010491157
Reverse auctions are considered a fast and inexpensive price discovery tool to award procurement contracts and it is …
Persistent link: https://www.econbiz.de/10011448760
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 prior to the auction; whereas in the "Sell-It-Now"...
Persistent link: https://www.econbiz.de/10011406561
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 prior to the auction; whereas in the "Sell-It-Now"...
Persistent link: https://www.econbiz.de/10011407823
auctions. Sellers may offer price information to potential bidders through buy-now prices (BNPs) and starting prices (SPs). In …-stage process, using data collected from eBay auctions. In the first stage, sellers decide whether to set a BNP. In stage two, they …
Persistent link: https://www.econbiz.de/10013091533
Auctions are increasingly being used to allocate emissions allowances (“permits”) for cap and trade and common …-pool resource management programs. These auctions create thick markets that can provide important information about changes in …-bid auctions and for multiround clock auctions, with or without end-of-round information about excess demand. Price inertia is …
Persistent link: https://www.econbiz.de/10013069758