Simultaneous use of auctions and posted prices |
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| Institution: | 1. Department of Economics, Auburn University, 0332 Haley Center, Auburn 36849, AL, United States;2. Department of Economics, College of William & Mary, Morton Hall 131, Williamsburg 23185, VA, United States;1. Universidad Publica de Navarra, Spain;2. Johns Hopkins Carey Business School, United States;1. University of Bonn, Department of Economics, Adenauerallee 24-42, D-53113 Bonn, Germany;2. Karlruhe Institute of Technology, Institute of Management, Chair of Human Resource Management, Waldhornstr. 27, D-76131 Karlsruhe, Germany;1. Department of Economics, University of Colorado Boulder, Boulder, CO 80309, USA;2. Department of Economics, University of Tübingen, Mohlstr. 36 (V4), D-72074 Tübingen, Germany;1. University of Konstanz, Department of Economics, Box 132, 78457 Konstanz, Germany;2. Università di Pavia, Department of Political and Social Sciences, C.so Strada Nuova, 65, 27100 Pavia, Italy |
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| Abstract: | I consider a model in which several identical objects are sold simultaneously via an auction and a posted price mechanism. The model explains several empirical regularities regarding bidding behavior in eBay auctions such as the finding that some bidders bid multiple times over the course of the auction, and that bidders tend to bid with greater frequency near the end of the auction than the beginning. I also show that sellers prefer to simultaneously use auctions and posted prices than to use either mechanism individually. |
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| Keywords: | Auctions Posted prices |
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