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Simultaneous use of auctions and posted prices

Patrick Hummel

European Economic Review, 2015, vol. 78, issue C, 269-284

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.

Keywords: Auctions; Posted prices (search for similar items in EconPapers)
JEL-codes: D44 (search for similar items in EconPapers)
Date: 2015
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European Economic Review is currently edited by T.S. Eicher, A. Imrohoroglu, E. Leeper, J. Oechssler and M. Pesendorfer

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