Economic insights from internet auctions

Journal of Economic Literature

Volumn 42, Issue 2, 2004, Pages 457-486

  Bajari, Patrick ^a   Hortaçsu, Ali ^b  

^a DUKE UNIVERSITY   (United States)

^b UNIVERSITY OF CHICAGO   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 4544275423     PISSN: 00220515     EISSN: None     Source Type: Journal    
DOI: 10.1257/0022051041409075     Document Type: Review

References (79)

1. Ariely, Dan; Axel Ockenfels and Alvin Roth. 2003. "An Experimental Analysis of Ending Rules in Internet Auctions." work. paper, Harvard Bus. School.
2. Athey, Susan and Philip Haile. 2002. "Identification in Standard Auction Models," Econometrica 70:6, pp. 2107-40.
3. Ba, Sulin and Paul Pavlou. 2002. "Evidence of the Effect of Trust Building Technology in Electronic Markets: Price Premiums and Buyer Behavior," MIS Quart. 26:3, pp. 243-68.
4. Bajari, Patrick and Ali Hortaçsu. 2003. "The Winner's Curse, Reserve Prices and Endogenous Entry: Empirical Insights from eBay Auctions", Rand J. Econ. 3:2, pp. 329-55.
5. Baron, David P. 2002. "Private Ordering on the Internet: The EBay Community of Traders," Bus. Politics (online), 4:3.
6. Bolton, Gary E.; Elena Katok and Axel Ockenfels. 2003. "How Effective Are Electronic Reputation Mechanisms? An Experimental Investigation," forthcoming, Manage. Sci.
7. Bulow, Jeremy and John Roberts. 1989. "The Simple Economics of Optimal Auctions," J. Polit. Econ. 97:5, pp.1060-90.
8. Cabral, Luis and Ali Hortaçsu. 2003. "Dynamics of Seller Reputation: Theory and Evidence from eBay," mimeo, U. Chicago.
9. Camerer, Colin. 1998. "Can Asset Markets Be Manipulated? A Field Experiment with Racetrack Betting," J. Polit. Econ. 106:3, pp. 457-82.
10. Cohen, Adam. 2002. The Perfect Store: Inside eBay. Little Brown & Co.
11. Coppinger, Vicki; Vernon Smith and Jon Titus. 1980. "Incentives and Behavior in English, Dutch and Sealed-Bid Auctions," Econ. Inquiry 43, pp. 1-22.
12. Cox, James C.; Bruce Roberson and Vernon Smith. 1982. "Theory and Behavior of single object auctions," Res. Exper. Econ. Vernon L. Smith, ed. JAI Press.
13. Coy, Peter. 2002. "Going, Going, Gone...Sucker!," Bus. Week, March 20.
14. Dellarocas, Chrysanthos. 2002. "The Digitization of Word-of-Mouth: Promise and Challenges of Online Reputation Mechanisms," Manage. Sci.
15. Dewan, Sanjeev and Vernon Hsu. 2001. "Trust in Electronic Markets: Price Discovery in Generalist Versus Specialty Online Auctions," mimeo, U. Washington Bus. School.
16. Eaton, David H. 2002. "Valuing Information: Evidence from Guitar Auction on eBay," mimeo, Murray State U.
17. Ederington, Louis H. and Michael Dewally. 2003. "A Comparison of Reputation, Certification, Warranties, and Information Disclosure as Remedies for Information Asymmetries: Lessons from the On-Line Comic Book Market," work. paper, Price College Bus., U. Oklahoma.
18. Elyakime, Bernard; Jean-Jacques Laffont; Patrice Loisel and Quang Vuong. 1994. "First price sealed bid auctions with secret reservation price," Annales d'Econ. Statist. 34, pp. 115-41.
19. Epple, Dennis. 1987. "Hedonic Prices and Implicit Markets: Estimating Demand and Supply Functions for Differentiated Products," J. Polit. Econ. 95:1, pp. 59-80.
20. Ericson, Richard and Ariel Pakes. "Markov Perfect Industry Dynamics: A Framework for Empirical Work," Rev. Econ. Stud. 62, pp. 53-82.
21. Garratt, Rod; Mark Walker and John Wooders. 2002. "Experienced Bidders in Online Second-Price Auctions." work. paper, U. Arizona.
22. Haile, Philip; Han Hong and Matthew Shum. 2000. "Nonparametric Tests for Common Values in First-Price Auctions," mimeo, Yale U.
23. Hansen, Robert. 1986. "Sealed Bid Versus Open Auctions: The Evidence," Econ. Inquiry 24, pp. 125-14.
24. Harstad, Ronald; John Kagel and Dan Levin. 1990. "Equilibrium Bid Functions for Auctions with an Uncertain Number of Bidders," Econ. Letters 33, pp. 35-40.
25. Hasker, Kevin; Raul Gonzalez and Robin Sickles. 2003. "An Analysis of Strategic Behavior and Consumer Surplus in eBay Auctions," work. paper, Rice U.
26. Holt, Charles. 1980. "Competitive Bidding for Contracts under Alternative Auction Procedures," J. Polit. Econ. 88, pp. 433-45.
27. Hopenhayn, Hugo. 1992. "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica 60, pp. 1127-50.
28. Houser, Dan and John Wooders. 2003. "Reputation in Auctions: Theory and Evidence from eBay," work. paper, U. Arizona.
29. Ivanova-Stenzel, Radosveta and Tim Salmon. 2003. "Bidder Preferences Among Auction Institutions," Econ. Inquiry.
30. Jin, Ginger Z. and Andrew Kato. 2002. "Blind Trust Online: Experimental Evidence from Baseball Cards," work. paper, U. Maryland.
31. Kagel, John H.; Ronald M. Harstad and Dan Levin. 1987. "Information Impact and Allocation Rules in Auctions with Affiliated Private Values: A Laboratory Study," Econometrica 55, pp. 1275-304.
32. Kagel, John and Alvin Roth, eds. 1995. The Handbook of Experimental Economics. Princeton: Princeton U. Press.
33. Kalyanam, Kirthi and Shelby McIntyre. 2001. "Returns to Reputation in Online Auction Markets," mimeo, Leavey School Bus., Santa Clara U.
34. Katkar, Rama and David Lucking-Reiley. 2000. "Public versus Secret Reserve Prices in eBay Auctions: Results from a Pokémon Field Experiment," work. paper, U. Arizona.
35. Katok, Elena and Anthony Kwasnica. 2000. "Time Is Money: The Effect of Clock Speed and Seller's Revenue in Dutch Auctions," work. paper, Penn State U.
36. Kazumori, Eichiro and John McMillan. 2003. "Selling Online Versus Live," work. paper, CalTech and Stanford GSB.
37. Klemperer, Paul. 1999. "Auction Theory," J. Econ. Surveys 13:3, pp. 227-86.
38. Krishna, Vijay. 2002. Auction Theory. San Diego: Academic Press.
39. Ku, Gillian; Deepak Malhotra and J. Keith Murnighan. 2003. "Competitive Arousal in Live and Internet Auctions," work. paper, Kellogg Grad. School Manage., Northwestern U.
40. Levin, Dan and James L. Smith, J. L. 1994. "Equilibrium in Auctions with Entry," Amer. Econ. Rev. 54, pp. 585-99.
41. Li, Huagang and Goufu Tan. 2000. "Hidden Reserve Prices with Risk Averse Bidders," mimeo, Penn State U.
42. Livingston, Jeffrey. 2002. "How Valuable is a Good Reputation? A Sample Selection Model of Internet Auctions," mimeo, U. Maryland.
43. Lucking-Reiley, David. 1999a. "Using Field Experiments to Test Equivalence Between Auction Formats: Magic on the Internet," Amer Econ. Rev. 89:5, pp. 1063-80.
44. -. 1999b. "Experimental Evidence on the Endogenous Entry of Bidders in Internet Auctions," work. paper, U. Arizona.
45. -. 2000a. "Vickrey Auctions in Practice: From Nineteenth-Century Philately to Twenty-First-Century E-Commerce," J. Econ. Perspect. 14:3, pp. 183-92.
46. -. 2000b. "Auctions on the Internet: What's Being Auctioned, and How?" J. Indust. Econ. 48:3, pp. 227-52.
47. Lucking-Reiley, David; D. Bryan; N. Prasad and D. Reeves. 2000. "Pennies from eBay: the Determinants of Price in Online Auctions," work. paper, U. Arizona.
48. Lucking-Reiley, David and Daniel F. Spulber. 2001. "Business-to- Business Electronic Commerce," J. Econ. Perspect. 15:1, pp. 55-68.
49. Matthews, Steven. 1995. "Comparing Auctions for Risk Averse Buyers: A Buyer's Point of View," Econometrica 55, pp. 633-46.
50. McAfee, R. Preston. 1993. "Mechanism Design by Competing Sellers," Econometrica 61, pp. 1281-312.
51. McAfee, R. Preston and John McMillan. 1987. "Auctions and Bidding," J. Econ. Lit. 25:2, pp. 699-738.
52. -. 1992. "Bidding Rings," Amer. Econ. Rev. 82, pp. 579-99.
53. McAfee, R. Preston; D. Quan and D. Vincent. 2002. "How to Set Minimum Acceptable Bids, with an Application to Real Estate Auctions," J. Ind. Econ. 50, pp. 391-416.
54. McDonald, Cynthia G. and V. Carlos Slawson. 2002. "Reputation in an Internet Auction Market," Econ. Inquiry 40, pp. 633-50.
55. Melnik, Mikhail I. and James Alm. 2002. "Does a Seller's eCommerce Reputation Matter? Evidence from eBay Auctions," J. Ind. Econ. 50, pp. 337-50.
56. Milgrom, Paul and Robert Weber. 1982. "A Theory of Auctions and Competitive Bidding," Econometrica 50, pp. 1089-122.
57. Morgan, John and Tanjim Hossain. 2003. "A Test of the Revenue Equivalence Theorem using Field Experiments on eBay," work. paper, Haas Bus. School.
58. Myerson, Roger. 1981. "Optimal Auction Design," Math. Operation Res. 6, pp. 58-73.
59. Ockenfels, Axel and Alvin E. Roth. 2003. "Late and Multiple Bidding in Second Price Internet Auctions: Theory and Evidence Concerning Different Rules for Ending an Auction," forthcoming, Games Econ. Behav.
60. Paarsch, Harry. 1992. "Deciding between the Common and Private Value Paradigms in Empirical Models of Auctions," J. Econometrics 51, pp. 191-215.
61. Park, Sangin. 2002. "Website Usage and Seller's Listing in Internet Auctions," work. paper, SUNY Stony Brook.
62. Peters, Michael and Sergei Severinov. 1997. "Competition among Sellers Who Offer Auctions Instead of Prices," J. Econ. Theory 75, pp. 141-79.
63. -. 2001. "Internet Auctions with Many Traders," work. paper, U. Wisconsin.
64. Rasmusen, Eric. 2001. "Strategic Implications of Uncertainty over One's Own Private Value in Auctions," work. paper, Indiana U.
65. Resnick, Paul and Richard Zeckhauser. 2001. "Trust Among Strangers in Internet Transactions: Empirical Analysis of eBay's Reputation System," work. paper, Harvard Kennedy School.
66. Resnick, Paul; Richard Zeckhauser, John Swanson and Kate Lockwood. 2003. "The Value of Reputation on eBay: A Controlled Experiment," work. paper, Harvard Kennedy School Gov.
67. Rezende, L. 2003. "Auction Econometrics by Least Squares," mimeo, U. Illinois Urbana-Champlain.
68. Riley, John and William Samuelson. 1981. "Optimal Auctions," Amer. Econ. Rev. 71, pp. 381-92.
69. Robinson, Marc. 1985. "Collusion and the Choice of Auction," Rand J. Econ. 16, pp. 141-45.
70. Rosen, Sherwin. 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," J. Polit. Econ. 82:1, pp. 34-55.
71. Roth, Alvin E. and Axel Ockenfels. 2002. "Last-Minute Bidding and the Rules for Ending Second-Price Auctions: Evidence from eBay and Amazon Auctions on the Internet," Amer. Econ. Rev. 92:4, pp. 1093-103.
72. Schindler, Julia. 2003. "Late Bidding on the Internet," mimeo, Vienna U. Econ. and Bus. Admin.
73. Vickrey, William. 1961. "Counterspeculation, Auctions and Competitive Sealed Tenders," J. Finance 16, pp. 8-37.
74. Vincent, Daniel. 1995. "Bidding Off the Wall: Why Reserve Prices May Be Kept Secret," J. Econ. Theory 65, pp. 75-84.
75. Wang, Joseph. 2003. "Is Last Minute Bidding Bad?" work. paper, UCLA.
76. Wilcox, Ronald T. 2000. "Experts and Amateurs: The Role of Experience in Internet Auctions," Markeing Letters 11;4, pp. 363-74.
77. Wilson, Robert. 1977. "A Bidding Model of Perfect Competition," Rev. Econ. Stud. 44, pp. 511-18.
78. Wolverton, Troy. 1999. "eBay Users Miffed by New Fees," CNET News.com, Aug. 20.
79. Yin, Pai-Ling. 2003. "Information Dispersion and Auction Prices," work. paper, Harvard Bus. School.