Using online auction data, we address the endogeneity involved in estimating the eff ect of the number of bidders on the winning bid. We introduce a novel instrumental variable. Our results indicate that the bias arising from treating the number of bidders as exogenous, is substantial

Internet auctions are an important resource in the business-to-business (B2B) market for companies that want to save money and increase profits. Understanding how auctions work on the Internet is mandatory in today's marketplace. Auctions can be used to do everything from selling excess...

Much of the prominent literature describing behavior in eBay-like marketplaces emphasizes the successful use of “sniping” agents that wait until the last moments of an auction to bid (truthfully) on behalf of a human user. These agents fare well against “naïve” agents (typically assumed...

We present an empirical investigation of the role of marketing agencies in Google's online ad auctions. By combining data on advertisers' affiliation to marketing agencies with data on bidding in ad auctions, we analyze how changes in the concentration of clients in the same industry under the...

This paper studies the seller's online listing strategy and its consequences. By focusing on the fixed-price posting, buy-it-now auction and regular auction, we empirically investigate how the sellers choose the listing format and its associated strategic instruments to better understand their...