Revenue in first-price auctions with a buy-out price and risk-averse bidders
Author
Abstract
Suggested Citation
DOI: 10.1007/s00712-019-00674-8
Download full text from publisher
References listed on IDEAS
- Timothy Mathews, 2006. "Bidder Welfare In An Auction With A Buyout Option," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 8(04), pages 595-612.
- Kevin Hasker & Robin Sickles, 2010. "eBay in the Economic Literature: Analysis of an Auction Marketplace," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 37(1), pages 3-42, August.
- Stanley Reynolds & John Wooders, 2009.
"Auctions with a buy price,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 38(1), pages 9-39, January.
- John Wooders & Stanley S. Reynolds, 2004. "Auctions with a Buy Price," Econometric Society 2004 North American Summer Meetings 130, Econometric Society.
- Ken Steiglitz, 2007. "English and Vickrey Auctions, from Snipers, Shills, and Sharks eBay and Human Behavior," Introductory Chapters, in: Snipers, Shills, and Sharks eBay and Human Behavior, Princeton University Press.
- Maskin, Eric S & Riley, Joan G, 1985.
"Auction Theory with Private Values,"
American Economic Review, American Economic Association, vol. 75(2), pages 150-155, May.
- Eric S. Maskin & John G. Riley, 1985. "Auction Theory with Private Values," UCLA Economics Working Papers 359, UCLA Department of Economics.
- Riley, John G & Samuelson, William F, 1981.
"Optimal Auctions,"
American Economic Review, American Economic Association, vol. 71(3), pages 381-392, June.
- John G. Riley & William Samuelson, 1979. "Optimal Auctions," UCLA Economics Working Papers 152, UCLA Department of Economics.
- Budish, Eric B. & Takeyama, Lisa N., 2001. "Buy prices in online auctions: irrationality on the internet?," Economics Letters, Elsevier, vol. 72(3), pages 325-333, September.
- Menezes, Flavio M., 2008. "An Introduction to Auction Theory," OUP Catalogue, Oxford University Press, number 9780199275991.
- Timothy Mathews & Brett Katzman, 2006. "The role of varying risk attitudes in an auction with a buyout option," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 27(3), pages 597-613, April.
- Lucking-Reiley, David, 2000. "Auctions on the Internet: What's Being Auctioned, and How?," Journal of Industrial Economics, Wiley Blackwell, vol. 48(3), pages 227-252, September.
- Timothy Mathews, 2004. "The Impact of Discounting on an Auction with a Buyout Option: a Theoretical Analysis Motivated by eBay’s Buy-It-Now Feature," Journal of Economics, Springer, vol. 81(1), pages 25-52, January.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Shuang Xu & Yong Zhao & Yeming Gong, 2021. "Equivalence and revenue comparison among identical-item auctions," Journal of Economics, Springer, vol. 134(3), pages 261-292, December.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Axel Ockenfels & David Reiley & Abdolkarim Sadrieh, 2006. "Online Auctions," NBER Working Papers 12785, National Bureau of Economic Research, Inc.
- Shunda, Nicholas, 2009.
"Auctions with a buy price: The case of reference-dependent preferences,"
Games and Economic Behavior, Elsevier, vol. 67(2), pages 645-664, November.
- Nicholas Shunda, 2007. "Auctions with a Buy Price: The Case of Reference-Dependent Preferences," Working papers 2007-42, University of Connecticut, Department of Economics.
- Kong‐Pin Chen & Szu‐Hsien Ho & Chi‐Hsiang Liu & Chien‐Ming Wang, 2017. "The Optimal Listing Strategies In Online Auctions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58(2), pages 421-437, May.
- Chen, Kong-Pin & Lai, Hung-pin & Yu, Ya-Ting, 2018.
"The seller's listing strategy in online auctions: Evidence from eBay,"
International Journal of Industrial Organization, Elsevier, vol. 56(C), pages 107-144.
- Chen, Kong-Pin & Liu, Yu-Sheng & Yu, Ya-Ting, 2012. "The Seller's listing strategy in online auctions: evidence from eBay," MPRA Paper 38369, University Library of Munich, Germany.
- Shunda, Nicholas, 2009.
"Auctioning with Aspirations: Keep Them Low (Enough),"
MPRA Paper
16242, University Library of Munich, Germany.
- Nicholas Shunda, 2009. "Auctioning with Aspirations: Keep Them Low (Enough)," Alumni working papers 2009-02, University of Connecticut, Department of Economics.
- Grebe, Tim & Ivanova-Stenzel, Radosveta & Kröger, Sabine, 2021. "How do sellers benefit from Buy-It-Now prices in eBay auctions?," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 189-205.
- Jong-Rong Chen & Kong-Pin Chen & Chien-Fu Chou & Ching-I Huang, 2013.
"A Dynamic Model of Auctions with Buy-It-Now: Theory and Evidence,"
Journal of Industrial Economics, Wiley Blackwell, vol. 61(2), pages 393-429, June.
- Chen, Jong-Rong & Chen, Kong-Pin & Chou, Chien-Fu & Huang, Ching-I, 2006. "A dynamic model of auctions with buy-it-now: theory and evidence," MPRA Paper 38371, University Library of Munich, Germany, revised 24 Nov 2011.
- Simon Grant & Atsushi Kajii & Flavio Menezes & Matthew J. Ryan, 2006.
"Auctions with options to re‐auction,"
International Journal of Economic Theory, The International Society for Economic Theory, vol. 2(1), pages 17-39, March.
- Grant, S. & Kajii, A. & Menezes, F. & Ryan, M., 2002. "Auctions with Options to Re-auction," Discussion Paper 2002-55, Tilburg University, Center for Economic Research.
- Grant, Simon & Kajii, Atsushi & Menezes, Flavio & Ryan, Matthew, 2003. "Auctions with Options to Re-auction," Working Papers 2003-15, Rice University, Department of Economics.
- Grant, S. & Kajii, A. & Menezes, F. & Ryan, M., 2002. "Auctions with Options to Re-auction," Other publications TiSEM 78aa0364-9221-4f88-963d-d, Tilburg University, School of Economics and Management.
- Vasserman, Shoshana & Watt, Mitchell, 2021. "Risk aversion and auction design: Theoretical and empirical evidence," International Journal of Industrial Organization, Elsevier, vol. 79(C).
- Han, Jidong & Popkowski Leszczyc, Peter T.L. & Zhang, Zelin, 2021. "Empirical Analyses of Nonlinear Effects of Reserve Prices on Ending Prices in Online Auctions," Journal of Interactive Marketing, Elsevier, vol. 54(C), pages 86-102.
- Ivanova-Stenzel, Radosveta & Kröger, Sabine, 2008.
"Price formation in a sequential selling mechanism,"
Journal of Economic Behavior & Organization, Elsevier, vol. 67(3-4), pages 832-843, September.
- Radosveta Ivanova-Stenzel & Sabine Kroger, 2005. "Price Formation in a Sequential Selling Mechanism," Cahiers de recherche 0530, CIRPEE.
- Ivanova-Stenzel, Radosveta & Kröger, Sabine, 2005. "Price formation in a sequential selling mechanism," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 92, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Radosveta Ivanova-Stenzel & Sabine Kröger, 2023. "Risk, Reward and Uncertainty in Buyer-Seller Transactions," CIRANO Working Papers 2023s-13, CIRANO.
- Toshihiro Tsuchihashi, 2019. "Mission impossible: Buy price fails to signal information," Economics Bulletin, AccessEcon, vol. 39(1), pages 431-434.
- Olarte, Rafael & Haghani, Ali, 2018. "Introducing and testing a game-theoretic model for a lottery-based metering system in Minneapolis, United States," Transport Policy, Elsevier, vol. 62(C), pages 63-78.
- René Kirkegaard & Per Baltzer Overgaard, 2008. "Buy‐out prices in auctions: seller competition and multi‐unit demands," RAND Journal of Economics, RAND Corporation, vol. 39(3), pages 770-789, September.
- Hidvegi, Zoltan & Wang, Wenli & Whinston, Andrew B., 2006. "Buy-price English auction," Journal of Economic Theory, Elsevier, vol. 129(1), pages 31-56, July.
- Ernan Haruvy & Peter Popkowski Leszczyc & Octavian Carare & James Cox & Eric Greenleaf & Wolfgang Jank & Sandy Jap & Young-Hoon Park & Michael Rothkopf, 2008.
"Competition between auctions,"
Marketing Letters, Springer, vol. 19(3), pages 431-448, December.
- Ernan Haruvy & Peter T. L. Popkowski Leszczyc & Octavian Carare & James C. Cox & Eric A. Greenleaf & Wolfgang Jank & Sandy Jap & Young-Hoon Park & Michael H. Rothkopf, 2008. "Competition Between Auctions," Experimental Economics Center Working Paper Series 2008-02, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
- Bauner, Christoph, 2015. "Mechanism choice and the buy-it-now auction: A structural model of competing buyers and sellers," International Journal of Industrial Organization, Elsevier, vol. 38(C), pages 19-31.
- Kirkegaard, René & Overgaard, Per Baltzer, "undated".
"Buy-Out Prices in Online Auctions: Multi-Unit Demand,"
Economics Working Papers
2003-4, Department of Economics and Business Economics, Aarhus University.
- René Kirkegaard & Per Baltzer Overgaard, 2002. "Buy-Out Prices in Online Auctions: Multi-Unit Demand," CIE Discussion Papers 2003-01, University of Copenhagen. Department of Economics. Centre for Industrial Economics, revised Feb 2003.
- Zhang, Hanzhe, 2021.
"The optimal sequence of prices and auctions,"
European Economic Review, Elsevier, vol. 133(C).
- Zhang, Hanzhe, 2019. "The Optimal Sequence of Prices and Auctions," Working Papers 2019-3, Michigan State University, Department of Economics.
More about this item
Keywords
Auction; Best offer; Buy-out; eBay; Risk aversion;All these keywords.
JEL classification:
- D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jeczfn:v:129:y:2020:i:2:d:10.1007_s00712-019-00674-8. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.