Shopping, gambling or shambling? Penny auctions

Stacey G. Robinson, Michael D. Giebelhausen and June Cotte

Journal of Business Research, 2013, vol. 66, issue 9, 1612-1616

Abstract: On penny auction websites, consumers participate in a game where the winner receives the opportunity to purchase a product for pennies on the dollar and discounts of over 90% are often advertised and recorded. Losers, on the other hand, may easily spend hundreds of dollars and walk away with nothing. For penny auction websites, profit margins over 300% on a single auction are not uncommon. Critics call penny auctions gambling. Proponents call penny auctions entertainment shopping. Either way, this emerging form of ecommerce represents a fascinating area for academic research.

Keywords: Gambling; Entertainment shopping; Penny auctions; Ecommerce; Public policy; Retailing (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:66:y:2013:i:9:p:1612-1616

DOI: 10.1016/j.jbusres.2012.12.005

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