Valuing Information: Evidence from Guitar Auctions on eBay
نویسنده
چکیده
منابع مشابه
Consumer Surplus in Online Auctions
Despite the growing research interest in Internet auctions, particularly those on eBay, little is known about the quantifiable consumer welfare accrued from such mechanisms. Using an ongoing novel field experiment, we collect and examine a unique dataset to empirically quantify and understand determinants of consumer surplus in eBay auctions. Our analysis, based on a sample of 5157 eBay auction...
متن کاملWhen Rational Sellers Face Nonrational Buyers: Evidence from Herding on eBay
P often observe others’ decisions before deciding themselves. Using eBay data for DVD auctions we explore the consequences of neglecting nonsalient information when making such inferences. We show that bidders herd into auctions with more existing bids, even if these are a signal of no-longer-available lower starting prices rather than of higher quality. Bidders bidding a given dollar amount ar...
متن کاملNibbling, Sniping, and the Role of Uncertainty in Second-Price, Hard-Close Internet Auctions: Empirical Evidence from eBay
Internet auctions have gained widespread appeal as an efficient and effective means of buying and selling goods and services. This study examines buyer behavior on eBay, one of the most wellknown Internet auction Web sites. eBay’s auction format is similar to that of a second-price, hardclose auction, which gives a rational participant an incentive to submit a bid that is equal to his or her ma...
متن کاملLast-Minute Bidding and the Rules for Ending Second-Price Auctions: Evidence from eBay and Amazon Auctions on the Internet
Auctions on the Internet provide a new source of data on how bidding is in uenced by the detailed rules of the auction. Here we study the second-price auctions run by eBay and Amazon, in which a bidder submits a reservation price and has this (maximum) price used to bid for him by proxy. That is, a bidder can submit his reservation price (called a proxy bid) early in the auction and have the r...
متن کاملBidding Behavior and Price Formation with competing Auctions: Evidence from eBay
Existing literatures consider on-line auctions as many independently running auctions and each bidder chooses only one auction. However, many substitutable goods are auctioned at the same time and bidders can bid several auctions at the same time. We examine a data set of eBay Pentium III 800 MHz CPU auctions to explore the bidding behavior and price formation for competing auctions. We also us...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2002