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from the literature to what contractors actually do. No comprehensive literature on the real bidding processes used in … contractors may have no justifiable basis. Contractors process their bids through certain tendering gateways. They acknowledge the …
Persistent link: https://www.econbiz.de/10005482565
Under-pricing in construction tenders is a common phenomenon and is commonly explained by the need of cash flows and penetration strategy. However, these explanations involve profit cutting and therefore are not plausible in explaining a long-term persistent phenomenon of under-pricing. A real...
Persistent link: https://www.econbiz.de/10005141079
Persistent link: https://www.econbiz.de/10009665099
This research examines how individual differences and institutional practices influence consumer bidding in auctions … for bidders primed with prudence (but not thrill). These findings on consumer bidding behavior have practical implications …
Persistent link: https://www.econbiz.de/10010990386
Most auction sellers consign property to auction houses rather than holding the auction themselves. In addition to charging sellers a commission on property that sells in the auction, many auction houses also specify buy-in penalties in auction contracts. This is an amount the seller must pay...
Persistent link: https://www.econbiz.de/10009214223
In this paper, I study profitability of the name-your-own-price channel (NYOP) in the presence of risk-averse buyers. First, I provide conditions that guarantee that for the monopolistic seller the NYOP is more profitable than the posted price. Second, I consider a more competitive framework...
Persistent link: https://www.econbiz.de/10009218480
Name-your-own-price (NYOP) retailers, such as Priceline, offer an alternative distribution channel for service providers in the travel industry such as airlines, hotels, and car rental companies. Our research employs an analytical model to identify and understand key trade-offs driving the...
Persistent link: https://www.econbiz.de/10009203901
bidding can increase both NYOP retailers' profits and consumers' surplus. We find that some consumers might bid more for the … very same items when they place joint bids. The increase in bid amount is related to the fact that joint bidding reduces … descriptive validity of some of the model predictions, because there are no field data on joint bidding in the NYOP channel. The …
Persistent link: https://www.econbiz.de/10009198222
to restrict individuals to a single bid, as is currently done by , or conversely, to allow consumers to continue bidding … circumvent such a policy by camouflaging one's identity or otherwise manipulating the bidding procedure. Thus, single … may rebid. I ask whether such surreptitious bidding is detrimental to the NYOP firm and find that profits are lower than …
Persistent link: https://www.econbiz.de/10008788067
We consider a problem at the interface of auctions and bundling. Our revenue-maximizing seller seeking to auction one unit each of two complements or substitutes in the best-of-three formats: the auction of the bundle, separate auctions of the individual items, and a combinatorial auction. We...
Persistent link: https://www.econbiz.de/10008788290