The impact of the irrelevant: temporary buy-options and bidding behavior in auctions (Q1651850): Difference between revisions

From MaRDI portal
Set OpenAlex properties.
ReferenceBot (talk | contribs)
Changed an Item
Property / cites work
 
Property / cites work: Late and multiple bidding in second price Internet auctions: theory and evidence concerning different rules for ending an auction / rank
 
Normal rank
Property / cites work
 
Property / cites work: An experimental study of auctions with a buy price under private and common values / rank
 
Normal rank
Property / cites work
 
Property / cites work: Buy prices in online auctions: Irrationality on the internet? / rank
 
Normal rank
Property / cites work
 
Property / cites work: The role of varying risk attitudes in an auction with a buyout option / rank
 
Normal rank
Property / cites work
 
Property / cites work: Auctions with a buy price / rank
 
Normal rank
Property / cites work
 
Property / cites work: Asymmetric information about rivals' types in standard auctions: an experiment / rank
 
Normal rank

Revision as of 01:59, 16 July 2024

scientific article
Language Label Description Also known as
English
The impact of the irrelevant: temporary buy-options and bidding behavior in auctions
scientific article

    Statements

    The impact of the irrelevant: temporary buy-options and bidding behavior in auctions (English)
    0 references
    0 references
    0 references
    0 references
    0 references
    10 July 2018
    0 references
    Summary: With a laboratory experiment, we study the impact of buy-options and the corresponding buy-price on revenues and bidding behavior in (online) proxy-auctions with independent private valuations. We show that temporary buy-options may reduce revenues for two reasons: At low buy-prices, the application of the buy-option avoids revenue-enhancing bidding; at high buy-prices, bidders are reluctant to bid above the option price (even though the option is no longer available once an auction has started). The latter suggests a particular type of anchoring, where bidders use the buy-price to update their expectations about the strengths of their opponents.
    0 references
    buy-options
    0 references
    online auctions
    0 references
    experiments
    0 references
    anchoring
    0 references

    Identifiers