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This paper presents the results of an experimental study of preemptive jump bidding in English auctions with a flexible reserve price. While one of the possible explanations for jump bidding is based on signaling arguments, the ability of the seller to adjust his decision to accept an offer...
Persistent link: https://www.econbiz.de/10012961250
Researchers and experts have typically viewed electronic auctions (such as those implemented by eBay, Amazon, and Yahoo!) as either oral, ascending-price (English) auctions or second-price, sealed-bid (Vickrey) auctions. I show that significant differences exist, both theoretical and practical,...
Persistent link: https://www.econbiz.de/10014214033
at a fixed price before an auction. In the "Buy-It-Now" format, the seller has the bargaining power and offers a price … prior to the auction; whereas in the "Sell-It-Now" format, it is the buyer. Both formats are extensively used in online and … offline markets. Despite very different strategic implications for buyers and sellers, results from our experiment suggest no …
Persistent link: https://www.econbiz.de/10011406561
at a fixed price before an auction. In the "Buy-It-Now" format, the seller has the bargaining power and offers a price … prior to the auction; whereas in the "Sell-It-Now" format, it is the buyer. Both formats are extensively used in online and … offline markets. Despite very different strategic implications for buyers and sellers, results from our experiment suggest no …
Persistent link: https://www.econbiz.de/10011407823
characteristics. The new games are introduced in isomorphic pairs. Experiment treatments with pairs of new isomorphic games provide …
Persistent link: https://www.econbiz.de/10014185582
ensuing auction, leading to loss of efficiency and eliminating the revenue dominance typically observed in first …
Persistent link: https://www.econbiz.de/10014139280
In an experiment using two-bidder first-price sealed bid auctions with symmetric independent private values, we … ; menstrual cycle ; gender ; likelihood of conception ; first price auction ; risk behavior ; competition ; bidding …
Persistent link: https://www.econbiz.de/10003878997
We correlate competitive bidding and profits in symmetric independent private value first-price auctions with salivary testosterone, estradiol, progesterone, and cortisol in more than 200 subjects. Bids are significantly positively correlated and profits are significantly negatively correlated...
Persistent link: https://www.econbiz.de/10010250541
We correlate competitive bidding and profits in symmetric independent private value first-price auctions with salivary testosterone, estradiol, progesterone, and cortisol in more than 200 subjects. Females bid significantly higher and earn significantly lower profits than males. Moreover,...
Persistent link: https://www.econbiz.de/10009544159
Winners in online auctions frequently fail to complete purchases. Major auction platforms therefore allow "second … bidders with a reputation for defaulting, counter to the idea of deterring such behavior. Our auction experiments support …
Persistent link: https://www.econbiz.de/10012237211