The Timing of Bids in Internet Auctions: Market Design, Bidder behavior, and Artificial Agents

Many bidders in eBay employ bidding strategies that involve late bids, incremental bids, or both. Based on field evidence, we discuss teh manner in which late bids are caused both by sophisticated, strategic reasoning and by irrationality and inexperience, the interaction of late bidding and incremental bidding, and the relation between market design and artificial agent design.

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Year of publication:	2002-07-01
Authors:	Ockenfels, Axel ; Roth, Alvin E.
Institutions:	Max-Planck-Institut für Ökonomik <Jena> / Abteilung Strategische Interaktion
Subject:	Internetauktion \| Electronic Auctions \| Auktionstheorie \| auction \| Marktanalyse \| market analysis \| eBay \| ebay

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Extent:	651264 bytes 18 p. application/pdf
Series:	Max-Planck-Institut für Ökonomik - Papers on Strategic Interaction DIscussion Paper ; 0233 (2002) Artificial Intelligence Magazine. (2002), 79-87
Type of publication:	Book / Working Paper
Language:	English
Classification:	Consumer behaviour ; Study of commerce ; Media management ; Individual Working Papers, Preprints ; Individual Articles ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005867017