Using 13 years of intraday data for U.S. stocks, we find a strong tendency for positive returns during the overnight period followed by reversals during the trading day. This behavior is driven by an opening price that is high relative to intraday prices. We find this temporary price inflation...

Despite the popular use of product sampling as a promotional strategy by retailers, existing research has largely focused on offline sampling of physical goods and online sampling of information goods but overlooked online sampling of physical goods. We argue that, in the context of online...