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Curious about the price? Consumers' behavior in price reveal auctions

Listed author(s):
  • Andrea Gallice
  • Giuseppe Sorrenti

We exploit several specific features of a recent online selling mechanism, the so- called price reveal auction, to empirically investigate how consumers' behavior changes in response to an item's intrinsic characteristics and 'social attributes'. We document a significant effect of the item's brand and intended use (outdoor vs. indoor) in influencing an agent's degree of impatience and willingness to pay. We show that, while both vari- ables have some explanatory power when considered in isolation, it is their interaction that really matters. We also study the determinants of the mechanism's profitability and show how, in the context of a price reveal auction, the sale of positional goods may backfire and harm revenues.

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Paper provided by Collegio Carlo Alberto in its series Carlo Alberto Notebooks with number 432.

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Length: pages 22
Date of creation: 2015
Handle: RePEc:cca:wpaper:432
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