rents left with the bidders. We model this tradeoff, and apply the theory to auctions of art. The crucial parameter for …

We use a simulation to study the profitability of selling consumer goods online using posted price and auction … performance with that of two alternative selling regimes: only auction and only posted price. We find that the best designs of … simultaneously. We consider the open ascending-bid auction mechanism and develop a model of consumers' behavior when faced with the …

In an auction-style listing at eBay, sellers have the option to set a posted price (also known as buy-it-now price …), which allows buyers to instantly purchase an item before the start of the auction. This paper provides a rationale for such … a selling mechanism. When many identical items are offered for sale and there are many buyers, random matching between …