کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
883766 912349 2012 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Sequential Internet auctions with different ending rules
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Sequential Internet auctions with different ending rules
چکیده انگلیسی

Two ending rules, a soft close and a hard close, exist in Internet auctions. The hard close auction involves a fixed deadline, while the deadline in the soft close auction may be extended if at least one bid is submitted in the final few minutes. Thus, the soft close allows buyers to submit ofter observing the opponent's bids even in the last minutes. Ending rules change both the seller's and the buyers’ strategies. In a sequential auction with the soft close, buyers have a stronger incentive to wait for low reserve prices in the future, and a seller chooses lower reserve prices.


► We model a sequential auction with a soft close ending rule.
► We examine difference of reserve prices and revenues between two ending rules.
► The seller posts a higher reserve price in hard close auctions than in soft close auctions.
► Both auction formats lead to the same allocation including the allocation period.
► The same allocation in the both auction formats lead to the same revenue in each period.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Behavior & Organization - Volume 81, Issue 2, February 2012, Pages 583–598
نویسندگان
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