The Effect of Posted Prices on Auction Prices: An Empirical Investigation of a Multichannel B2B Market

IF 7 2区管理学 Q1 COMPUTER SCIENCE, INFORMATION SYSTEMS

Mis Quarterly Pub Date : 2023-12-01 DOI:10.25300/misq/2022/17556

May Truong, Alok Gupta, Wolfgang Ketter, Eric van Heck

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Abstract

Although multichannel sales strategies have become common due to the use of advanced information technologies, how one trading mechanism can influence the outcome of another, especially in the B2B market, remains largely underexplored. This paper investigates the effect of price and quantity information from an online posted-price presales channel on the performance of the century-old sequential Dutch auction system. Sellers can control the price paid and make a proportion of their stock available in auction presales. Anything left after presales is sold via auctions. Our analysis of nearly 1.5 million flower lots reveals a positive effect with higher auction prices and total revenue for lots listed in presales than for lots that are not. The result holds even for lots with no actual sales in the presales, indicating that buyers pay close attention to the additional information from the posted-price presales channel. By teasing out the information effect of presales prices and presales quantity on auction prices, we evaluate a number of pricing strategies. The results suggest that selling at a high price in presales is still more beneficial than selling more by discounting prices.

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公示价格对拍卖价格的影响:一个多渠道B2B市场的实证研究

虽然由于使用先进的信息技术，多渠道销售策略已经变得很普遍，但一种交易机制如何影响另一种交易机制的结果，特别是在B2B市场，在很大程度上仍未得到充分探索。本文研究了在线标价预售渠道的价格和数量信息对具有百年历史的顺序荷兰拍卖系统性能的影响。卖家可以控制支付的价格，并在拍卖预售中提供一部分库存。预售后剩下的东西通过拍卖出售。我们对近150万件花卉拍品的分析显示，与未列入预售的拍品相比，列入预售的拍品在拍卖价格和总收入方面具有更高的积极影响。这一结果甚至适用于预售中没有实际成交的拍品，表明买家密切关注来自标价预售渠道的额外信息。通过梳理预售价格和预售数量对拍卖价格的信息效应，我们评估了一些定价策略。结果表明，在预售中以高价销售仍然比以折扣价销售更有利。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Mis Quarterly 工程技术-计算机：信息系统

CiteScore

13.30

自引率

4.10%

发文量

审稿时长

6-12 weeks

期刊介绍： Journal Name: MIS Quarterly Editorial Objective: The editorial objective of MIS Quarterly is focused on: Enhancing and communicating knowledge related to: Development of IT-based services Management of IT resources Use, impact, and economics of IT with managerial, organizational, and societal implications Addressing professional issues affecting the Information Systems (IS) field as a whole Key Focus Areas: Development of IT-based services Management of IT resources Use, impact, and economics of IT with managerial, organizational, and societal implications Professional issues affecting the IS field as a whole