Engelmann, Dirk; Frank, Jeff; Koch, Alexander K.; … - 2020
costly, auction platforms often allow sellers to make a "secondchance" offer to the second highest bidder, to buy at the bid … price of this bidder, and let sellers leave negative feedback on buyers who fail to pay. We show theoretically that, all … addition, buyer reputation systems create a strategic effect that rewards bidders who have a reputation for defaulting, counter …