Life annuities can be a valuable component of the decumulation stage of wealth during retirement. While economists argue that most retirees should annuitize, actual demand in the marketplace is low. We analyze data from two studies to determine how measurable individual differences among...

With increasing numbers of consumers in auction marketplaces, we highlight some recent approaches that bring additional economic, social, and psychological factors to bear on existing economic theory to better understand and explain consumer behavior in auctions. We also highlight specific...

Multivariate economic and business data frequently suffer from a missing data phenomenon that has not been sufficiently explored in the literature:b oth the independent and dependent variables for one or more dimensions are missing or absent for some of the observational units. For example, in...

This paper analyzes sequential auctioning single units of an indivisible good to a fluctuating population composed of overlapping generations of unit-demand bidders. Two phenomena emergent in such a market are investigated: forward-looking bidding strategies, and closed-loop selling strategies...

At Internet auction sites like eBay, similar goods are often sold in a sequence of auctions, separated by small amounts of time. Buyers can therefore benefit from forward-looking strategies that take into account available information about future auctions. This paper develops a model of such...

Pay What You Want (PWYW) can be an attractive marketing strategy to price discriminate between fair-minded and selfish customers, to fully penetrate a market without giving away the product for free, and to undercut competitors that use posted prices. We report on laboratory experiments that...

Pay What You Want (PWYW) can be an attractive marketing strategy to price discriminate between fair-minded and selfish customers, to fully penetrate a market without giving away the product for free, and to undercut competitors that use posted prices. We report on laboratory experiments that...