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eBay's Buy-It-Now Function: Who, When, and How

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Author Info

  • Durham Yvonne

    ()
    (Western Washington University)

  • Roelofs Matthew R

    ()
    (Western Washington University)

  • Standifird Stephen S

    ()
    (University of San Diego)

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    Abstract

    This paper utilizes field experiment methodology and market data to study the "Buy-it-Now" (BIN) function in a series of eBay coin auctions. BIN auctions are typically listed by sellers with higher reputations. The probability an auction will end BIN increases with seller reputation and is not significantly affected by negative comments. Auctions listed by new sellers average lower prices and are less likely to end BIN. Buyer use of the BIN option increases as the BIN price decreases. We find that price is directly related to seller reputation, though not affected by negative comments, and is negatively related to buyer reputation. This result is driven by those auctions that start with a BIN price.

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    File URL: http://www.degruyter.com/view/j/bejeap.2004.4.issue-1/bejeap.2004.4.1.1316/bejeap.2004.4.1.1316.xml?format=INT
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    Bibliographic Info

    Article provided by De Gruyter in its journal The B.E. Journal of Economic Analysis & Policy.

    Volume (Year): 4 (2004)
    Issue (Month): 1 (October)
    Pages: 1-24

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    Handle: RePEc:bpj:bejeap:v:topics.4:y:2004:i:1:n:28

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    Web page: http://www.degruyter.com

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    Web: http://www.degruyter.com/view/j/bejeap

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    Cited by:
    1. Nicholas Shunda, 2007. "Auctions with a Buy Price: The Case of Reference-Dependent Preferences," Working papers 2007-42, University of Connecticut, Department of Economics.
    2. Anderson, Steven & Friedman, Daniel & Milam, Garrett & Singh, Nirvikar, 2007. "Buy it now: A hybrid market institution," MPRA Paper 4322, University Library of Munich, Germany.
    3. Grebe, Tim & Ivanova-Stenzel, Radosveta & Kröger, Sabine, 2010. "Buy-It-Now prices in eBay Auctions - The Field in the Lab," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 294, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    4. Axel Ockenfels & David Reiley & Abdolkarim Sadrieh, 2006. "Online Auctions," NBER Working Papers 12785, National Bureau of Economic Research, Inc.
    5. Liu, Kang Ernest & Shiu, Ji-Liang & Sun, Chia-Hung, 2013. "How different are consumers in Internet auction markets? Evidence from Japan and Taiwan," Japan and the World Economy, Elsevier, vol. 28(C), pages 1-12.
    6. Grebe, Tim & Ivanova-Stenzel, Radosveta & Kröger, Sabine, 2006. "How eBay Sellers set “Buy-it-now†prices - Bringing The Field Into the Lab," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 181, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    7. Peeters, Ronald & Strobel, Martin & Vermeulen, Dries & Walzl, Markus, 2007. "The impact of the irrelevant – Temporary buy-options and bidding behavior in online auctions," Research Memorandum 027, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    8. Sun, Chia-Hung & Hsu, Ming-Fei, 2007. "The Determinants of Price in Online Auctions: More Evidence from Quantile Regression," Economics Working Papers wp07-18, School of Economics, University of Wollongong, NSW, Australia.

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