Multiple and last-minute bidding in competing internet auctions |
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Authors: | Marta Stryszowska |
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Institution: | 1. Microeconomix, 5 rue du Quatre Septembre, 75002, Paris, France
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Abstract: | The present paper proposes a theoretical model of the equilibrium bidding behavior in simultaneous competing private-value Internet auctions such as those on eBay. It shows that last-minute bidding and multiple bidding, two commonly observed bidding strategies, arise in equilibrium. It also suggests that last-minute bidding may lead to inefficient outcomes. |
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