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Managing Online Auctions: Current Business and Research Issues

  • Edieal J. Pinker

    ()

    (W. E. Simon Graduate School of Business Administration, University of Rochester, Rochester, New York 14627)

  • Abraham Seidmann

    ()

    (W. E. Simon Graduate School of Business Administration, University of Rochester, Rochester, New York 14627)

  • Yaniv Vakrat

    ()

    (McKinsey and Company, Palo Alto, California 94304 and The Graduate School of Business, Stanford University, Stanford, California 94305)

Registered author(s):

    The Internet's computational power and flexibility have made auctions a widespread and integral part of both consumer and business markets. Though online auctions are a multi-billion dollar annual activity, with a growing variety of sophisticated trading mechanisms, scientific research on them is at an early stage. This paper analyzes the current state of management science research on online auctions. It develops a broad research agenda for issues such as the behavior of online auction participants, the optimal design of online auctions, the integration of auctions into the ongoing operation of firms, and the use of the data generated by online auctions to inform future trading mechanisms. These research areas will draw from applied and theoretical work spanning management science, economics, and information systems.

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    File URL: http://dx.doi.org/10.1287/mnsc.49.11.1457.20584
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    Article provided by INFORMS in its journal Management Science.

    Volume (Year): 49 (2003)
    Issue (Month): 11 (November)
    Pages: 1457-1484

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    Handle: RePEc:inm:ormnsc:v:49:y:2003:i:11:p:1457-1484
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    1. Michael H. Rothkopf & Ronald M. Harstad, 1994. "Modeling Competitive Bidding: A Critical Essay," Management Science, INFORMS, vol. 40(3), pages 364-384, March.
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    14. David Lucking-Reiley, 1999. "Using field experiments to test equivalence between auction formats: Magic on the internet," Framed Field Experiments 00183, The Field Experiments Website.
    15. Damian R. Beil & Lawrence M. Wein, 2003. "An Inverse-Optimization-Based Auction Mechanism to Support a Multiattribute RFQ Process," Management Science, INFORMS, vol. 49(11), pages 1529-1545, November.
    16. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September.
    17. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, 03.
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    19. Il-Horn Hann & Christian Terwiesch, 2003. "Measuring the Frictional Costs of Online Transactions: The Case of a Name-Your-Own-Price Channel," Management Science, INFORMS, vol. 49(11), pages 1563-1579, November.
    20. repec:oxf:wpaper:1999-w12 is not listed on IDEAS
    21. Harris, Milton & Raviv, Artur, 1981. "Allocation Mechanisms and the Design of Auctions," Econometrica, Econometric Society, vol. 49(6), pages 1477-99, November.
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