Ariely, Dan; Ockenfels, Axel; Roth, Alvin E. - In: RAND Journal of Economics 36 (2005) 4, pp. 890-907
A great deal of late bidding has been observed on eBay, which employs a second-price auction with a fixed deadline. Much less late bidding has been observed on Amazon, which can only end when ten minutes have passed without a bid. In controlled experiments, we find that the difference in the...