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 the 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:	2001-07
Authors:	Ockenfels, Axel ; Roth, Alvin E.
Institutions:	Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft

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Extent:	application/pdf
Series:	Papers on Strategic Interaction.
Type of publication:	Book / Working Paper
Notes:	18 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005765109