In an auction with a buy price, a seller offers bidders the opportunity to forgo competing in an auction by transacting … auction's reserve price and buy price, she does best to keep her aspirations sufficiently low by designing a no …-reserve auction with a buy price low enough that some bidder types would exercise it with positive probability in equilibrium. The …

In an auction with a buy price, a seller offers bidders the opportunity to forgo competing in an auction by transacting … auction's reserve price and buy price, she does best to keep her aspirations sufficiently low by designing a no …-reserve auction with a buy price low enough that some bidder types would exercise it with positive probability in equilibrium. The …

Do bidders behave as auction theory predicts they should? How do bidders (and thus, prices) react to different types of … information? This paper derives implications of auction theory with respect to the dispersion of private information signals in an … auction. I conduct a survey of non-bidders to construct a measure of information dispersion that is independent of bidding …

In an auction with a buy price, the seller provides bidders with an option to end the auction early by accepting a … transaction at a posted price. This paper develops a model of an auction with a buy price in which bidders use the auction … to augment her auction with a buy price and demonstrates that the seller sets a higher reserve price when she can affect …

We consider a private-value auction with one-sided incomplete information in which two objects are sold in a sequence … gather private information, which leads to aggressive bidding in the first-stage auction …

bidders are risk-averse, a seller can obtain a higher expected revenue from the auction with a certain buy price than from the … auction without a buy price. We extend their revenue improvement result to the n-bidder, two-type framework. However, in case … illustrates that even if bidders are risk-averse, a seller cannot always obtain a higher expected revenue from the auction with a …

-it-now (BIN) price to maximize revenue. The three main sales channels in the online auction (the pure auction, the BIN auction … price for the BIN auction, which in turn is greater than that for the pure auction. This prediction is confirmed by data … from eBay's auction of iPods. Using the seller's inventory as a proxy for his degree of time-preference, the data also …

.g., auction prices; retail price dispersion; or investment choices in stocks, R&D, or education) are usually relegated to the …

On many online auction sites it is now possible for a seller to augment his auction with a maximum or buy-out price … offer additional justification by observing that trading on Internet auctions is not of a "one-shot" nature, but that market … on by other sellers. The buy-out price will increase revenue in the current auction, but revenue in future auctions will …