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When auction meets fixed price: a theoretical and empirical examination of buy-it-now auctions

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  • Xin Wang

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  • Alan Montgomery

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  • Kannan Srinivasan

    ()

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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s11129-008-9041-0
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    Bibliographic Info

    Article provided by Springer in its journal Quantitative Marketing and Economics.

    Volume (Year): 6 (2008)
    Issue (Month): 4 (December)
    Pages: 339-370

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    Handle: RePEc:kap:qmktec:v:6:y:2008:i:4:p:339-370

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    Web page: http://www.springerlink.com/link.asp?id=111240

    Related research

    Keywords: Auctions; Pricing research; Game theory; D44; M30;

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    References

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    1. Nitin Mehta & Surendra Rajiv & Kannan Srinivasan, 2003. "Price Uncertainty and Consumer Search: A Structural Model of Consideration Set Formation," Marketing Science, INFORMS, vol. 22(1), pages 58-84, June.
    2. John A. List & David Lucking-Reiley, 2000. "Bidding Behavior and Decision Costs in Field Experiments," Vanderbilt University Department of Economics Working Papers 0006, Vanderbilt University Department of Economics.
    3. Haruvy, Ernan & Popkowski Leszczyc, Peter T. L., 2010. "Internet Auctions," Foundations and Trends(R) in Marketing, now publishers, vol. 4(1), pages 1-75, March.
    4. Brian T. Ratchford, 1982. "Cost-Benefit Models for Explaining Consumer Choice and Information Seeking Behavior," Management Science, INFORMS, vol. 28(2), pages 197-212, February.
    5. Ruqu Wang, 1991. "Auctions Versus Posted-Price Selling," Working Papers 812, Queen's University, Department of Economics.
    6. John G. Riley & William Samuelson, 1979. "Optimal Auctions," UCLA Economics Working Papers 152, UCLA Department of Economics.
    7. Alvin E. Roth & Axel Ockenfels, 2002. "Last-Minute Bidding and the Rules for Ending Second-Price Auctions: Evidence from eBay and Amazon Auctions on the Internet," American Economic Review, American Economic Association, vol. 92(4), pages 1093-1103, September.
    8. Samuelson, William F., 1985. "Competitive bidding with entry costs," Economics Letters, Elsevier, vol. 17(1-2), pages 53-57.
    9. Green, Jerry & Laffont, Jean-Jacques, 1984. "Participation constraints in the vickrey auction," Economics Letters, Elsevier, vol. 16(1-2), pages 31-36.
    10. 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, 01.
    11. 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.
    12. 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.
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    Cited by:
    1. 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.
    2. Jiang, Zhong-Zhong & Fang, Shu-Cherng & Fan, Zhi-Ping & Wang, Dingwei, 2013. "Selecting optimal selling format of a product in B2C online auctions with boundedly rational customers," European Journal of Operational Research, Elsevier, vol. 226(1), pages 139-153.
    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. Nicholas Shunda, 2009. "Auctioning with Aspirations: Keep Them Low (Enough)," Alumni working papers 2009-02, University of Connecticut, Department of Economics.
    5. 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.
    6. Xin Wang & Ye Hu, 2009. "The effect of experience on Internet auction bidding dynamics," Marketing Letters, Springer, vol. 20(3), pages 245-261, September.
    7. V. Padmanabhan & Ilia Tsetlin & Timothy Zandt, 2010. "Setting price or quantity: Depends on what the seller is more uncertain about," Quantitative Marketing and Economics, Springer, vol. 8(1), pages 35-60, March.

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