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Games and Economic Behavior
Article . 2009 . Peer-reviewed
License: Elsevier TDM
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Article . 2009
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Article . 2007 . Peer-reviewed
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Auctions with a Buy Price: The Case of Reference-Dependent Preferences

Auctions with a buy price: the case of reference-dependent preferences
Authors: Shunda, Nicholas;

Auctions with a Buy Price: The Case of Reference-Dependent Preferences

Abstract

The referred paper contributes to the mathematical modeling of internet auctions with their specific features. Namely, the auctions with buy prices where the seller provides bidders with an option are considered. The model analyzed in the paper differs from the existing literature in two aspects: bidders and seller are risk neutral, and changes in auction prices affect bidding behavior in a predictable way. The main contribution of the paper consists in the analysis of the behavior of participants of such auction, and in the demonstration of the fact that the theoretical structure of that behavior is (in the contrary to the results published in previous literature) consistent with the behavior observed in both, laboratory and real life.

Country
United States
Related Organizations
Keywords

Internet, Internet topics, reference-dependence, Reference-dependence, Economics, auction, bidding behavior, Buy price, 303, Auction, Auction, Buy price, Internet, Reference-dependence?, Auctions, bargaining, bidding and selling, and other market models, bidder, buy price, internet, seller, jel: jel:D82, jel: jel:D44, jel: jel:L86

  • BIP!
    Impact byBIP!
    selected citations
    These citations are derived from selected sources.
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    34
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Top 10%
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Top 10%
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Average
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
34
Top 10%
Top 10%
Average
bronze