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1.
When auction meets fixed price: a theoretical and empirical examination of buy-it-now auctions 总被引:2,自引:0,他引:2
Recently fixed pricing and auctions have been brought together in a new pricing format that offers bidders the option of prematurely
ending an auction at a fixed price. The growing popularity of auctions presents an interesting pricing decision for managers:
whether to sell at a fixed price, in a regular auction, or through a buy-it-now auction. This paper studies eBay’s buy-it-now
auction and answers the following research questions: why is fixed price used at traditional auctions, will buy-it-now increase
the seller’s profit, how is an optimal price determined, and how is the buy-it-now decision influenced by key factors such
as the customer’s cost of participating in the auction, the seller’s reserve price, and the number of potential customers.
Our results show that when customers make endogenous participation decisions according to their participation costs, buy-it-now
auctions can increase both customers’ utility and sellers’ profit. Endogenous participation has important implications for
seller’s pricing decisions such as price formats and levels. Depending on the level of the posted price, the resulting price
format could be either fixed price, buy-it-now auction or pure auction. Therefore, the seller needs to be careful and take
into account market conditions when posting a price at auctions. We empirically test the model assumptions and predictions
using data collected from eBay.
Electronic supplementary material The online version of this article (doi:) contains supplementary material, which is available to authorized users.
相似文献
Electronic supplementary material The online version of this article (doi:) contains supplementary material, which is available to authorized users.
Kannan SrinivasanEmail: |
2.
Christine Riefa 《Journal of Consumer Policy》2008,31(2):167-194
This paper discusses the legal classification of online “eBay” auctions. The discussion has key implications on the scope
of consumer protection law as sale by auctions are, for example, excluded from the scope of the Consumer Protection (Distance
Selling) Regulations 2000. The paper uncovers that online “eBay” auctions cannot always be considered as traditional auctions
and that eBay, as an intermediary, is not to be considered as an auctioneer. This creates difficulties associated with a distributive
application of consumer protection laws such as the Consumer Protection (Distance Selling) Regulations 2000. Another set of
difficulties is associated with a lenient legal regime applicable to the liability of eBay under the Electronic Commerce (EC
Directive) Regulations 2002. The paper concludes that there is an urgent need to clarify the legal classification of online
auctions and to rethink the liability of online auction sites to better protect consumers.
相似文献
Christine RiefaEmail: |
3.
Ke-Wei Huang 《Quantitative Marketing and Economics》2009,7(3):321-341
This paper investigates how a monopoly seller should determine the optimal set of pricing variables (pricing metrics) for
third-degree price discrimination applications in which buyers have log-normally distributed willingness-to-pay (WTP). In
a setup that closely resembles linear and probit regressions, this paper shows that when the monopoly seller is restricted
to using one metric and no price discrimination cost exists, the pricing metric that best reduces the residual variance of
buyers’ willingness-to-pay is the one that maximizes revenue. Equivalently, the explanatory power of willingness-to-pay is
the ordering criterion. This paper also shows that this criterion is not universally true when willingness-to-pay follows
other distributions. When the seller incurs price discrimination costs associated with different metrics, the ordering criterion
becomes the explanatory power of each pricing metric divided by its cost. This paper also discusses how to apply this model
to solve real-world pricing problems with contingent valuation models or using probit regression.
相似文献
Ke-Wei HuangEmail: |
4.
Kate Tokeley 《Journal of Consumer Policy》2007,30(2):137-150
This article examines the legal protection of consumers from vendor bidding on New Zealand online auctions sites. The current
lack of legal control over online vendor bidding is contrasted with the more restrictive legal position taken in respect of
vendor bidding in traditional auctions. The article argues that online vendor bidding is misleading in nature and harmful
to consumers. It argues that the law is justified in intervening in order to prevent or discourage the practice. Suggestions
are made for a multilayered legal approach to the problem.
相似文献
Kate TokeleyEmail: |
5.
On the basis of the bidding history of a panel of new eBay bidders, we examine the impact of different types of experiences
on bidding behavior evolution. Accounting for unobserved bidder heterogeneity, the results indicate that losing experiences
make the bidders’ bidding behavior evolve toward the normative predictions of auction theory, in that they submit fewer bids
and bid later. Winning experiences, however, do not have such an effect. Moreover, the experience effect pertains to the bidder’s
entire previous bidding experience regardless of product categories. We also assess the potential bias introduced by using
feedback ratings (compared with actual participation) as experience measures.
相似文献
Ye HuEmail: |
6.
Janine Frauendorf Elena Kähm Michael Kleinaltenkamp 《Journal of Business Market Management》2007,1(1):7-40
As a phenomenon of modified value-chain structures the economic importance of business-to-business markets has been growing
immensely during the past decades. This paper delivers a quantified overview of the market dimensions in terms of transactional
volume. In addition, it explains the causes for this market development such as an increased service orientation in business
transactions, higher degrees of customization, and influential factors on a macro level. In this context, future trends in
this sector will be outlined as well.
相似文献
Michael KleinaltenkampEmail: |
7.
This paper investigates whether small businesses face financial constraints that affect their survival. A model of moral hazard
is developed in which financial constraints arise endogenously. The model predicts that higher private assets relax financial
constraints and have a positive effect on the firm’s probability of survival. The empirical analysis confirms that the entrepreneur
has a higher propensity to stay in business when she inherits capital. This effect is particularly strong for entrepreneurs
who switch from self-employment into wage employment.
相似文献
Oleksandr TalaveraEmail: |
8.
Business Ethics Training: Insights from Learning Theory 总被引:1,自引:3,他引:1
John A. Weber 《Journal of Business Ethics》2007,70(1):61-85
This paper explores research in educational psychology and learning theory in a search for insights to enhance business ethics
training Useful educational principles uncovered are then applied to the development of an ethics training initiative for
sales professionals. The paper concludes with suggestions for future research to help enrich business ethics training.
相似文献
John A. WeberEmail: |
9.
Mariarosaria Agostino Francesco Trivieri 《Journal of Industry, Competition and Trade》2008,8(1):33-53
This work investigates whether local differences in banking competition impact on the amount of bank debt used by Italian
small and medium sized manufacturing firms. Sample selection and Double Hurdle models are adopted as the process, which results
in the choice of bank financing may differ from that determining its amount. Our main finding is that more competitive banking
markets seem to be associated with relatively higher usage of bank debt by less transparent firms. On the other hand, a higher
banking competition seems to have no effect on the probability of receiving bank loans.
相似文献
Francesco TrivieriEmail: |
10.
Higher educational services exports: sources of growth of Asian students in US and UK 总被引:1,自引:1,他引:0
The paper reviews the recent trends and current developments in the global higher education market with a particular focus
on growth of Asian students studying in US and UK. Using pool cross section-time series data over the 1985–2003 period, it
is found that different factors affect students from different countries differently. This suggests that the marketing strategies
of offshore higher education providers need to be tailored to the specific needs of different markets in order to be successful.
The emergence of a number of new players in the higher education export market is also rapidly becoming a major threat to
the traditional higher education service exporters.
相似文献
Doren ChadeeEmail: |
11.
This paper examines the implications of the globalization of value chains for the role of small and medium-sized enterprises
(SMEs) in the tourism industry. To begin with, the configuration of the global tourism value chain is analysed. Next, the
participation of Andalusian SMEs in the global tourism value chains is investigated. A number of case studies have been developed
in two relevant sectors, hotels and travel agencies, giving priority to the main tourist typologies existing in Andalusia:
sun and sand, business and congress, cultural and rural. As a result, a SWOT analysis has been produced. Finally, from the
key findings some policy recommendations supporting the role of tourism SMEs in global value chain are made.
相似文献
Pilar TejadaEmail: |
12.
This paper has three objectives: (1) to survey the relevant literature addressing the (apparent) paradox of Research & Development
investments carried out within Small and Medium Enterprises; (2) to provide focused summaries of the articles in this special
issue; (3) to draw some general conclusions in terms of policy implications.
相似文献
Peter VoigtEmail: |
13.
Managing the shipment of goods to consumers is one of the central aspects of retail competition on the internet. In this article, we analyze internet retailers’ shipping strategies using data from the internet book retailing industry. We find that, controlling for a variety of observable firm characteristics, firms with lower product prices offer lower shipping fees and higher quality shipping in terms of average delivery time, compared to firms with higher product prices. These patterns cannot be readily reconciled with a large class of models of competition under perfect consumer information. Theories based on imperfect consumer information can explain the findings better.
相似文献
Han LiEmail: |
14.
The authors review the foundation for incorporating market concentration directly into consumer utility functions, and develop
a general equilibrium model to derive welfare-maximizing principles for optimal enforcement of antitrust policies toward concentrated
market structures, including merger policy. An intriguing result is that increased market concentration can fail to maximize
economic welfare even if a proposed merger might generate positive net efficiencies.
相似文献
Norman P. ObstEmail: |
15.
Several drivers of entrepreneurial aspirations and entrepreneurial motivations are investigated using country-level data from
the Global Entrepreneurship Monitor (GEM) for the years 2005 and 2006. We estimate a two-equation model explaining aspirations
using motivations and socioeconomic variables, and explaining motivations using socioeconomic variables. We find that countries
with a higher incidence of increase-wealth-motivated entrepreneurs tend to have a higher prevalence of high-job-growth and
export-oriented entrepreneurship and that a country’s level of social security relates negatively to the prevalence of innovative,
high-job-growth, and export-oriented entrepreneurship. We also find that the increase-wealth motive mediates the relationship
between socioeconomic variables and entrepreneurial aspirations.
相似文献
Jolanda HesselsEmail: |
16.
This paper investigates the impact of in-house R&D and innovation management practices on innovation success in small and
medium-sized firms (SMEs). While there is little doubt about the significance of technology competence for generating successful
innovations, in-house R&D activities may be a particular challenge for SMEs due to high risk exposure, high fixed costs, high
minimum investment and severe financial constraints. SMEs may thus opt for refraining from R&D and relying more on innovation
management tools in order to achieve innovation success. We analyse whether such a strategy can pay off. Based on data from
the German CIS, we find that R&D activities are a main driver for innovation success if combined with external R&D, using
external innovation sources or by entering into co-operation agreements. SMEs without in-house R&D can yield a similar innovation
success if they effectively apply human resource management tools or team work to facilitate innovation processes.
相似文献
Alfred SpielkampEmail: |
17.
Entrepreneurship in post-socialist economies: A typology and institutional contexts for market entrepreneurship 总被引:1,自引:1,他引:0
Nir Kshetri 《Journal of International Entrepreneurship》2009,7(3):236-259
There is growing recognition among post-socialist (PS) economies that free-market entrepreneurship is essential for ultimately
improving their economic future. The promotion of market entrepreneurship, however, has been a challenging experience for
these economies. This paper examines various forms of entrepreneurship in PS economies. Drawing upon the institutional theory,
we also highlight the clear contexts and attendant mechanisms associated with institutions–entrepreneurship nexus in PS economies’
contexts.
相似文献
Nir KshetriEmail: |
18.
We investigate the relationship between free-standing insert advertising style and coupon redemption. Results from two experiments
indicate that the propensity to clip a coupon can be enhanced by matching ad tone (emotional vs rational) to the nature of
a consumer’s primary motivation with respect to coupon usage. Moreover, this result appears to hold for consumers with both
procoupon and anticoupon inclinations.
相似文献
Michelle L. RoehmEmail: |
19.
This paper examines the relationship between agglomeration economies and relative wage costs in influencing location of multinational
corporations. An inflow of firms to certain regions and industries is likely to increase demand for labor. If mobility of
labor is low increased costs can be expected to deter additional inflows of firms, albeit agglomeration economies may compensate
for higher wages. Despite its important policy implications this relationship has to our knowledge not been exposed to empirical
testing. The empirical analysis finds that foreign direct investment has become increasingly sensitive to differences in wage
cost across industrialized countries, but also that agglomeration economies related to knowledge externalities positively
influences higher costs. The relative strength of these two forces impacts the spatial distribution of production.
相似文献
Per ThulinEmail: |
20.
The impact of public guarantees on credit to SMEs 总被引:1,自引:0,他引:1
This article provides an in-depth evaluation of the impact of public credit guarantees to SMEs in increasing credit availability
and reducing borrowing costs, without compromising their financial sustainability. Extensive econometric tests have been carried
out by comparing the performance of the SMEs that benefited from such guarantees in Italy with a sample of comparable firms.
The findings confirm the presence of a causal relationship between the public guarantee and the higher debt leverage of guaranteed
firms, as well as their lower debt cost. Italy’s guarantee instrument has proved to be an effective instrument in these respects.
相似文献
Marco Ventura (Corresponding author)Email: |