메뉴 건너뛰기




Volumn 14, Issue 4, 2010, Pages 7-38

Vickrey vs. eBay: Why second-price sealed-bid auctions lead to more realistic price-demand functions

Author keywords

Market research; on line auctions; pricing; Vickrey auctions; willingness to pay

Indexed keywords


EID: 77954550742     PISSN: 10864415     EISSN: None     Source Type: Journal    
DOI: 10.2753/JEC1086-4415140401     Document Type: Article
Times cited : (22)

References (57)
  • 1
    • 0001097339 scopus 로고    scopus 로고
    • Modelling response incentive effects in dichotomous choice contingent valuation data
    • August
    • Alberini, A.; Kanninen, B.; and Carson, R.T. Modelling response incentive effects in dichotomous choice contingent valuation data. Land Economics, 73 (August 1997), 309-324.
    • (1997) Land Economics , vol.73 , pp. 309-324
    • Alberini, A.1    Kanninen, B.2    Carson, R.T.3
  • 2
    • 34247213001 scopus 로고    scopus 로고
    • The lovely but lonely vickrey auction
    • P. Cramton, R. Steinberg, and Y. Shoham (eds.) Cambridge, MA: MIT Press
    • Ausubel, L.M., and Milgrom, P. The lovely but lonely Vickrey auction. In P. Cramton, R. Steinberg, and Y. Shoham (eds.), Combinatorial Auctions. Cambridge, MA: MIT Press, 2006, pp. 17-40.
    • (2006) Combinatorial Auctions , pp. 17-40
    • Ausubel, L.M.1    Milgrom, P.2
  • 3
    • 0141816228 scopus 로고    scopus 로고
    • Evidence of the effect of trust building technology in electronic markets: Price premiums and buyer behavior
    • Ba, S., and Pavlou, P.A. Evidence of the effect of trust building technology in electronic markets: Price premiums and buyer behavior. MIS Quarterly, 26, 3 (2002), 243-268.
    • (2002) MIS Quarterly , vol.26 , Issue.3 , pp. 243-268
    • Ba, S.1    Pavlou, P.A.2
  • 4
    • 0037281469 scopus 로고    scopus 로고
    • And design of business to consumer online auctions
    • January
    • Bapna, R.; Goes, P.; and Gupta, A. Analysis and design of business-to- consumer online auctions. Management Science, 49 (January 2003), 85-101.
    • (2003) Management Science , vol.49 , pp. 85-101
    • Bapna, R.1    Goes, P.2    Analysis, G.A.3
  • 6
    • 72049098768 scopus 로고    scopus 로고
    • Overlapping online auctions: Empirical characterization of bidder strategies and auction prices
    • Bapna, R.; Chang, S.A.; Goes, P.; and Gupta, A. Overlapping online auctions: Empirical characterization of bidder strategies and auction prices. MIS Quarterly, 33, 4 (2009), 763-783.
    • (2009) MIS Quarterly , vol.33 , Issue.4 , pp. 763-783
    • Bapna, R.1    Chang, S.A.2    Goes, P.3    Gupta, A.4
  • 7
    • 0013770374 scopus 로고
    • Measuring utility by a single-response sequential method
    • July
    • Becker, G.M.; DeGroot, M.H.; and Marschak, J. Measuring utility by a single-response sequential method. Behavioral Science, 9 (July 1964), 226-232.
    • (1964) Behavioral Science , vol.9 , pp. 226-232
    • Becker, G.M.1    Degroot, M.H.2    Marschak, J.3
  • 9
    • 33748557457 scopus 로고    scopus 로고
    • The timing of bid placement and extent of multiple bidding: An empirical investigation using eBay online auctions
    • Borle, S.; Boatwright, P.; and Kadane, J.B. The timing of bid placement and extent of multiple bidding: An empirical investigation using eBay online auctions. Statistical Science, 21, 2 (2006), 194-205.
    • (2006) Statistical Science , vol.21 , Issue.2 , pp. 194-205
    • Borle, S.1    Boatwright, P.2    Kadane, J.B.3
  • 10
    • 18444370306 scopus 로고    scopus 로고
    • Three cheers-psychological, theoretical, empirical-for loss aversion
    • Camerer, C.F. Three cheers-psychological, theoretical, empirical-for loss aversion. Journal of Marketing Research, 42, 2 (2005), 129-133.
    • (2005) Journal of Marketing Research , vol.42 , Issue.2 , pp. 129-133
    • Camerer, C.F.1
  • 11
    • 0000630986 scopus 로고
    • "closed-ended" contingent valuation surveys
    • May
    • Cameron, T.A., and James, M.D. Efficient estimation methods for "closed-ended" contingent valuation surveys. Review of Economics and Statistics, 69 (May 1987), 269-276.
    • (1987) Review of Economics and Statistics , vol.69 , pp. 269-276
    • Cameron, T.A.1    James, M.D.2
  • 12
    • 34250168269 scopus 로고    scopus 로고
    • Willingness to pay and competition in online auctions
    • May
    • Chan, T.Y.; Kadiyali, V.; and Park, Y.-H. Willingness to pay and competition in online auctions. Journal of Marketing Research, 44 (May 2007), 324-333.
    • (2007) Journal of Marketing Research , vol.44 , pp. 324-333
    • Chan, T.Y.1    Kadiyali, V.2    Park, Y.-H.3
  • 14
    • 0036274176 scopus 로고    scopus 로고
    • Auction or agent (or both)? A study of moderators of the herding bias in digital auctions
    • Dholakia, U.M.; Basuroy, S; and Soltysinski, K. Auction or agent (or both)? A study of moderators of the herding bias in digital auctions. International Journal of Research in Marketing, 19, 2 (2002), 115-130.
    • (2002) International Journal of Research in Marketing , vol.19 , Issue.2 , pp. 115-130
    • Dholakia, U.M.1    Basuroy, S.2    Soltysinski, K.3
  • 15
    • 34250164198 scopus 로고    scopus 로고
    • A truth telling mechanism for conjoint analysis
    • May
    • Ding, M. A truth telling mechanism for conjoint analysis. Journal of Marketing Research, 44 (May 2007), 214-223.
    • (2007) Journal of Marketing Research , vol.44 , pp. 214-223
    • Ding, M.1
  • 19
    • 38249001436 scopus 로고
    • Prices and pricing research in consumer marketing: Some recent developments
    • Gijsbrechts, E. Prices and pricing research in consumer marketing: Some recent developments. International Journal of Research in Marketing, 10, 2 (1993), 115-151.
    • (1993) International Journal of Research in Marketing , vol.10 , Issue.2 , pp. 115-151
    • Gijsbrechts, E.1
  • 21
    • 33745056767 scopus 로고    scopus 로고
    • The role of reputation systems in reducing on-line auction fraud
    • spring
    • Gregg, D.G., and Scott, J.E. The role of reputation systems in reducing on-line auction fraud. International Journal of Electronic Commerce, 10, 3 (spring 2006), 95-120.
    • (2006) International Journal of Electronic Commerce , vol.10 , Issue.3 , pp. 95-120
    • Gregg, D.G.1    Scott, J.E.2
  • 22
    • 50249129368 scopus 로고    scopus 로고
    • Dressing your online auction business for success: An experiment comparing two eBay businesses
    • Gregg, D.G., and Walczak, S. Dressing your online auction business for success: An experiment comparing two eBay businesses. MIS Quarterly, 32, 3 (2008), 653-670.
    • (2008) MIS Quarterly , vol.32 , Issue.3 , pp. 653-670
    • Gregg, D.G.1    Walczak, S.2
  • 25
    • 33846794856 scopus 로고    scopus 로고
    • Binary Vickrey auction-A robust and efficient multi-unit sealed-bid online auction protocol against buyer multi-identity bidding
    • Hidvegi, Z.; Wang, W.; and Whinston, A.B. Binary Vickrey auction-A robust and efficient multi-unit sealed-bid online auction protocol against buyer multi-identity bidding. Decision Support Systems, Emerging Issues in Collaborative Commerce, 43, 2 (2007), 301-312.
    • (2007) Decision Support Systems, Emerging Issues in Collaborative Commerce , vol.43 , Issue.2 , pp. 301-312
    • Hidvegi, Z.1    Wang, W.2    Whinston, A.B.3
  • 26
    • 21144464367 scopus 로고
    • Using laboratory experimental auctions in marketing research: A case study of new packaging for fresh beef
    • summer
    • Hoffman, E.; Menkhaus, D.J.; Chakravarti, D.; Field, R.A.; and Whipple, G.D. Using laboratory experimental auctions in marketing research: A case study of new packaging for fresh beef. Marketing Science, 12 (summer 1993), 318-338.
    • (1993) Marketing Science , vol.12 , pp. 318-338
    • Hoffman, E.1    Menkhaus, D.J.2    Chakravarti, D.3    Field, R.A.4    Whipple, G.D.5
  • 27
    • 9144229518 scopus 로고    scopus 로고
    • Hope or hype: On the viability of escrow services as trusted third parties in online auction environments
    • Hu, X.; Lin, Z.; Whinston, A.B.; and Zhang, H. Hope or hype: On the viability of escrow services as trusted third parties in online auction environments. Information Systems Research, 15, 3 (2004), 236-249.
    • (2004) Information Systems Research , vol.15 , Issue.3 , pp. 236-249
    • Hu, X.1    Lin, Z.2    Whinston, A.B.3    Zhang, H.4
  • 29
    • 77954559005 scopus 로고    scopus 로고
    • Studying heterogeneity of price evolution in eBay auctions via functional clustering
    • G. Adomavicius and A. Gupta (eds.) Bingley, UK: Emerald
    • Jank, W., and Shmueli, G. Studying heterogeneity of price evolution in eBay auctions via functional clustering. In G. Adomavicius and A. Gupta (eds.), Business Computing. Bingley, UK: Emerald, 2009, pp. 237-262.
    • (2009) Business Computing , pp. 237-262
    • Jank, W.1    Shmueli, G.2
  • 30
    • 35548935545 scopus 로고    scopus 로고
    • Are the Vickrey auction and the BDM- mechanism really incentive compatible?
    • January
    • Kaas, K.P., and Ruprecht, H. Are the Vickrey auction and the BDM- mechanism really incentive compatible? Schmalenbach Business Review, 58 (January 2006), 37-55.
    • (2006) Schmalenbach Business Review , vol.58 , pp. 37-55
    • Kaas, K.P.1    Ruprecht, H.2
  • 31
    • 0002564950 scopus 로고
    • Auctions: A survey of experimental research
    • J.H. Kagel and A.E. Roth (eds.) Princeton: Princeton University Press
    • Kagel, J.H. Auctions: A survey of experimental research. In J.H. Kagel and A.E. Roth (eds.), The Handbook of Experimental Economics. Princeton: Princeton University Press, 1995, pp. 501-585.
    • (1995) The Handbook of Experimental Economics , pp. 501-585
    • Auctions, H.K.J.1
  • 32
    • 0040952956 scopus 로고    scopus 로고
    • Vickrey auctions in practice: From nineteenth-century philately to twenty-first-century e-commerce
    • summer
    • Lucking-Reiley, D. Vickrey auctions in practice: From nineteenth-century philately to twenty-first-century e-commerce. Journal of Economic Perspectives, 14 (summer 2000), 183-192.
    • (2000) Journal of Economic Perspectives , vol.14 , pp. 183-192
    • Lucking-Reiley, D.1
  • 34
    • 0033233939 scopus 로고    scopus 로고
    • Why analyst overconfidence about the functional form of demand models can lead to overpricing
    • Montgomery, A.L., and Bradlow, E.T. Why analyst overconfidence about the functional form of demand models can lead to overpricing. Marketing Science, 18, 4 (1999), 569-583.
    • (1999) Marketing Science , vol.18 , Issue.4 , pp. 569-583
    • Montgomery, A.L.1    Bradlow, E.T.2
  • 35
    • 77951066050 scopus 로고    scopus 로고
    • MRA (Marketing Research Association) Glastonbury, CT
    • MRA (Marketing Research Association). The Code of Marketing Research Standards. Glastonbury, CT, 2003.
    • (2003) The Code of Marketing Research Standards
  • 37
    • 11044223543 scopus 로고    scopus 로고
    • Revealing consumers' willingness-to-pay: A comparison of the BDM mechanism and the Vickrey auction
    • Noussair, C.N.; Robin, S.N.M.I.; and Ruffieux, B. Revealing consumers' willingness-to-pay: A comparison of the BDM mechanism and the Vickrey auction. Journal of Economic Psychology, 25 (2004), 725-741.
    • (2004) Journal of Economic Psychology , vol.25 , pp. 725-741
    • Noussair, C.N.1    Robin, S.N.M.I.2    Ruffieux, B.3
  • 38
    • 33645930975 scopus 로고    scopus 로고
    • And multiple bidding in second price Internet auctions: Theory and evidence concerning different rules for ending an auction
    • Ockenfels, A., and Roth, A.E. Late and multiple bidding in second price Internet auctions: Theory and evidence concerning different rules for ending an auction. Games and Economic Behavior, 55 (2006), 297-320.
    • (2006) Games and Economic Behavior , vol.55 , pp. 297-320
    • Ockenfels, A.1    Late, E.R.A.2
  • 39
    • 28444493720 scopus 로고    scopus 로고
    • An integrated model for bidding behavior in Internet auctions: Whether, who, when, and how much
    • Park, Y.-H., and Bradlow, E.T. An integrated model for bidding behavior in Internet auctions: Whether, who, when, and how much. Journal of Marketing Research, 37, 4 (2005), 470-482.
    • (2005) Journal of Marketing Research , vol.37 , Issue.4 , pp. 470-482
    • Park, Y.-H.1    Bradlow, E.T.2
  • 40
    • 33847061223 scopus 로고    scopus 로고
    • The nature and role of feedback text comments in online marketplaces: Implications for trust building, price premiums, and seller differentiation
    • Pavlou, P.A., and Dimoka, A. The nature and role of feedback text comments in online marketplaces: Implications for trust building, price premiums, and seller differentiation. Information Systems Research, 17, 4 (2006), 391-412.
    • (2006) Information Systems Research , vol.17 , Issue.4 , pp. 391-412
    • Pavlou, P.A.1    Dimoka, A.2
  • 42
    • 2442676514 scopus 로고    scopus 로고
    • Building effective online marketplaces with institution-based trust
    • Pavlou, P.A., and Gefen, D. Building effective online marketplaces with institution-based trust. Information Systems Research, 15, 1 (2004), 27-53.
    • (2004) Information Systems Research , vol.15 , Issue.1 , pp. 27-53
    • Pavlou, P.A.1    Gefen, D.2
  • 43
    • 0005536474 scopus 로고    scopus 로고
    • Always leave home without it: A further investigation of the credit-card-effect on willingness-to-pay
    • February
    • Prelec, D., and Simester, D. Always leave home without it: A further investigation of the credit-card-effect on willingness-to-pay. Marketing Letters, 12 (February 2001), 5-12.
    • (2001) Marketing Letters , vol.12 , pp. 5-12
    • Prelec, D.1    Simester, D.2
  • 44
    • 0003288460 scopus 로고    scopus 로고
    • Last-minute bidding and the rules for ending second-price auctions: Evidence from eBay and Amazon auctions on the Internet
    • September
    • Roth, A.E., and Ockenfels, A. Last-minute bidding and the rules for ending second-price auctions: Evidence from eBay and Amazon auctions on the Internet. American Economic Review, 92 (September 2002), 1093-1103.
    • (2002) American Economic Review , vol.92 , pp. 1093-1103
    • Roth, A.E.1    Ockenfels, A.2
  • 45
    • 0000373784 scopus 로고
    • Modeling competitive bidding: A critical essay
    • March
    • Rothkopf, M.H., and Harstad, R.M. Modeling competitive bidding: A critical essay. Management Science, 40 (March 1994), 364-384.
    • (1994) Management Science , vol.40 , pp. 364-384
    • Rothkopf, M.H.1    Harstad, R.M.2
  • 48
    • 0000194171 scopus 로고
    • The price elasticity of selective demand: A meta-analysis of economic models of sales
    • November
    • Tellis, G.J. The price elasticity of selective demand: A meta-analysis of economic models of sales. Journal of Marketing Research, 25 (November 1988), 331-341.
    • (1988) Journal of Marketing Research , vol.25 , pp. 331-341
    • Tellis, G.J.1
  • 50
    • 84980096808 scopus 로고
    • Counter speculation, auctions and competitive sealed tenders
    • March
    • Vickrey, W. Counter speculation, auctions and competitive sealed tenders. Journal of Finance, 16 (March 1961), 8-37.
    • (1961) Journal of Finance , vol.16 , pp. 8-37
    • Vickrey, W.1
  • 51
    • 33646595624 scopus 로고    scopus 로고
    • An empirical comparison of methods for measuring consumers' willingness to pay
    • Volckner, F. An empirical comparison of methods for measuring consumers' willingness to pay. Marketing Letters, 17, 2 (2006), 137-149.
    • (2006) Marketing Letters , vol.17 , Issue.2 , pp. 137-149
    • Volckner, F.1
  • 52
    • 34250205188 scopus 로고    scopus 로고
    • Reservation price as a range: An incentive-compatible measurement approach
    • May
    • Wang, T.; Venkatesh, R.; and Chatterjee, R. Reservation price as a range: An incentive-compatible measurement approach. Journal of Marketing, 44 (May 2007), 200-213.
    • (2007) Journal of Marketing , vol.44 , pp. 200-213
    • Wang, T.1    Venkatesh, R.2    Chatterjee, R.3
  • 53
    • 0040075940 scopus 로고    scopus 로고
    • Designing mechanisms for e-commerce security: An example from sealed-bid auctions
    • winter
    • Wang, W.; Hidvegi, Z.; and Whinston, A.B. Designing mechanisms for e-commerce security: An example from sealed-bid auctions. International Journal of Electronic Commerce, 6, 2 (winter 2001-2002), 139-156.
    • (2001) International Journal of Electronic Commerce , vol.6 , Issue.2 , pp. 139-156
    • Wang, W.1    Hidvegi, Z.2    Whinston, A.B.3
  • 54
    • 0040079715 scopus 로고    scopus 로고
    • Bidding behavior in on-line auctions: An examination of the eBay Pokemon card market
    • summer
    • Ward, S.G., and Clark, J.M. Bidding behavior in on-line auctions: An examination of the eBay Pokemon card market. International Journal of Electronic Commerce, 6, 4 (summer 2002), 139-155.
    • (2002) International Journal of Electronic Commerce , vol.6 , Issue.4 , pp. 139-155
    • Ward, S.G.1    Clark, J.M.2
  • 55
    • 0035995557 scopus 로고    scopus 로고
    • Measuring consumers' willingness to pay at the point of purchase
    • May
    • Wertenbroch, K., and Skiera, B. Measuring consumers' willingness to pay at the point of purchase. Journal of Marketing Research, 39 (May 2002), 228-241.
    • (2002) Journal of Marketing Research , vol.39 , pp. 228-241
    • Wertenbroch, K.1    Skiera, B.2
  • 56
  • 57
    • 33748525853 scopus 로고    scopus 로고
    • Forward-looking bidding in online auctions
    • Zeithammer, R. Forward-looking bidding in online auctions. Journal of Marketing Research, 43, 3 (2006), 462-476.
    • (2006) Journal of Marketing Research , vol.43 , Issue.3 , pp. 462-476
    • Zeithammer, R.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.