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New Institutional Structures on the Internet: The Economic Design of Online Auctions

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  • Axel Ockenfels

Abstract

The internet facilitates interactive and asynchronous communication among human and artificial agents in large bilateral markets. As a consequence, new institutional structures are emerging in the new economy. I discuss a few core problems associated with the economic design of internet markets and the way they are approached by eBay.com, a popular online auction platform.

Suggested Citation

  • Axel Ockenfels, 2002. "New Institutional Structures on the Internet: The Economic Design of Online Auctions," Papers on Strategic Interaction 2002-08, Max Planck Institute of Economics, Strategic Interaction Group.
    • Handle: RePEc:esi:discus:2002-08
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    Cited by:

    1. Werner Güth & Axel Ockenfels, 2002. "The Coevolution of Trust and Institutions in Anonymous and Non-anonymous Communities," Papers on Strategic Interaction 2002-07, Max Planck Institute of Economics, Strategic Interaction Group.
    2. Axel Ockenfels, 2002. "Reputationsmechanismen auf Internet-Marktplattformen - Theorie und Empirie -," Papers on Strategic Interaction 2002-46, Max Planck Institute of Economics, Strategic Interaction Group.

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