Buy it Now: A Hybrid Internet Market Institution

IF 2.3 4区 管理学 Q3 BUSINESS
Steven T. Anderson, D. Friedman, Garrett Milam, Nirvikar Singh
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引用次数: 60

Abstract

This paper analyzes seller choices and outcomes in approximately 700 recent Internet auctions on eBay. The ‘Buy it Now’ option that is available in these auctions allows the seller to supplement or replace the auction with a posted price offer. We use a structural model to control for the endogenous conduct of the auction (e.g., number of bids and bidders) as well as product and seller characteristics. Among other results, we find that the ‘Buy it Now’ option was used more often by sellers with higher ratings (awarded by previous buyers) and sellers offering fewer units; and that posted prices were more prevalent for used items. Sellers obtained higher prices for unused and undamaged items overall, and especially when selling at the ‘Buy it Now’ price.
立即购买:一个混合的互联网市场机构
本文分析了近700次eBay网上拍卖中卖家的选择和结果。在这些拍卖中提供的“立即购买”选项允许卖方以公布的价格报价补充或取代拍卖。我们使用结构模型来控制拍卖的内生行为(例如,投标和竞标者的数量)以及产品和卖方特征。在其他结果中,我们发现评级较高的卖家(由以前的买家授予)和提供较少单位的卖家更经常使用“立即购买”选项;贴出的价格在二手物品中更为普遍。总的来说,卖家在未使用和未损坏的物品上获得了更高的价格,尤其是在以“立即购买”的价格出售时。
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
CiteScore
6.30
自引率
5.10%
发文量
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