Many bidders in eBay employ bidding strategies that involve late bids, incremental bids, or both. Based on field evidence, we discuss teh manner in which late bids are caused both by sophisticated, strategic reasoning and by irrationality and inexperience, the interaction of late bidding and...

Auctions on the Internet provide a new source of data on how bidding is influenced by the detailed rules of the auction. Here we study the second-price auction run by eBay and Amazon, in which a bidder submits a reservation price, and has this (maximum) price used to bid for him by proxy.[...]

Trust that suppliers and buyers will keep their word is a necessary ingredient to a wellfunctioning marketplace. Nowhere is the issue trickier than for electronic markets, wheretransactions tend to be geographically diffuse and anonymous, putting them out of the reach ofthe legal safeguards and...

Online reputation -"feedback"- mechanism aim to mitigate the moral hazard problem associated with spatially distant exchange among strangers by providing traders with the type of information available in small groups, where members are frequently involved in another's dealings. We compare...

Niedrigere Einkaufspreise und effizientere Beschaffungsprozesse sind die Hauptziele bei Auktionen. Dies eignen sich aber nicht für alle Artikel und Marktsituationen. Bei professioneller Durchführung kann auch die Verhandlungsfairness steigen.

Purchasing transactions are increasingly conducted through electronic auctions. Some companies already source 25 percent of their total purchase volume through this electronic mechanism. However, most of these purchasing transactions could, alternatively, be conducted as face-to-face...