Forward-looking bidding in online auctions

Forward-looking bidding in online auctions

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Article ID: iaor2007578
Country: United States
Volume: 43
Issue: 3
Start Page Number: 462
End Page Number: 476
Publication Date: Aug 2006
Journal: Journal of Marketing Research
Authors:
Keywords: bidding, game theory
Abstract:

At Internet auction sites, such as eBay, nearly identical goods are often sold in a sequence of auctions, separated by small amounts of time. Upcoming auctions are announced several days in advance, so buyers can benefit from forward-looking strategies that take this information into account. This article develops a model of such bidding, provides empirical evidence of the model's relevance to actual behavior on eBay, and discusses the general implications of forward-looking bidding for sequential, auction-driven marketplaces.

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