information on the highest bid after each round for every band along with information on the bidder. We evaluate the price … formation efficiency in this setup to see how fast prices become informative about the final auction value. We find that prices … from their competitors' bidding behavior and validates the choice of the agency to implement the auction in the present …

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 … buyers buy the item before the start of the auction. In the case of a single seller with many items for sale, this not only …

-patterns of reserve price formation. We find that chosen reserve prices exhibit both, very sophisticated and 'irrational' behavior … (2008) and are adjusted remarkably nuanced to the resulting sales price pattern. Moreover, reserve prices are too clustered … entitlement effects and the sunk cost fallacy as there is a huge positive effect on the reserve price when the player has been …

to auction prices substantially below those expected in second-price auctions. Our results reveal that the observed price … deviations are not an artefact due to the existence of the BIN price, rather a consequence of the specific features of the eBay-auction … format - a mixture between sealed-bid and open second-price auction with a fixed end-time. Moreover, we find that information …

does not effect their price decisions. Compared to an eBay auction without a BIN-price, the BIN-auction is more efficient … format leads to prices substantially below those expected in second-price auctions. Moreover, our results reveal that the … information available on eBay about buyer experience and bidding behavior correlates with the observed price deviation. Sellers …

compared to an optimal common reserve price. Implications for auction design are considered. …We investigate equilibrium bidding in first-price auctions with asymmetric reserve prices. For example, the auctioneer … may set a low reserve price for one subset of bidders and a high reserve price for others. When used to pursue a …

for female artists' work from supply-side factors. Using 1.5 million auction transactions in 45 countries, we document a … 47.6% gender discount in auction prices for paintings. The discount is higher in countries with greater gender inequality …

We consider a procurement auction, where each supplier has private costs and submits a stepped supply function. We … solve for a Bayesian Nash equilibrium and show that the equilibrium has a price instability in the sense that a minor change … in a suppliers cost sometimes result in a major change in the market price. In wholesale electricity markets, we predict …

In an auction with a buy price, the seller provides bidders with an option to end the auction early by accepting a … transaction at a posted price. This paper develops a model of an auction with a buy price in which bidders use the auction … to augment her auction with a buy price and demonstrates that the seller sets a higher reserve price when she can affect …