offline auctions and auction theory. Among the main differences between online and offline auctions is their longer duration … tend to exhibit variable dynamics both in the bid arrivals and in the price process. In this paper we propose a family of …

-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 …

In Buy-It-Now (BIN, hereafter) auctions, sellers can make a "take-it-or-leave-it" price offer (BIN price) prior to an … 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 …

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 … does not effect their price decisions. Compared to an eBay auction without a BIN-price, the BIN-auction is more efficient …