A dynamic model of auctions with buy-it-now: Theory and evidence

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题名:	A dynamic model of auctions with buy-it-now: Theory and evidence
作者:	陳忠榮;Chen, Jong-Rong;Chen, Kong-Pin;Chou, Chien-Fu;Huang, Ching-I
贡献者:	管理學院產業經濟研究所
关键词:	Auction theory;Auctions;Bidding;Dynamic models;Prices;Risk;Search engines;Studies;Taiwan;Valuation
日期:	2013-06-01
上传时间:	2026-04-23 12:45:52 (UTC+8)
出版者:	Wiley-Blackwell Publishing Ltd;Oxford: Blackwell Publishing Ltd
摘要:	摘要： In the ascending-price auctions with Yahoo!-type buy-it-now (BIN), we characterize and derive the closed-form solution for the optimal bidding strategy of the bidders and the optimal BIN price of the seller when they are both risk-averse. The seller is shown to be strictly better off with the BIN option, while the bidders are better off only when their valuation is high enough. The theory also implies that the expected transaction price is higher in an auction with an optimal BIN price than one without a BIN option. This prediction is confirmed by our data collected from Taiwan's Yahoo! auctions. 其他題名： J Ind Econ 出版者： Oxford: Blackwell Publishing Ltd 出版日期： 2013-06 出處： The Journal of industrial economics, 2013-06, Vol.61 (2), p.393-429 資源來源： JSTOR Arts and Sciences I 版權： Copyright © 2013 The Editorial Board of The Journal of Industrial Economics and John Wiley & Sons Ltd. 版權： 2013 The Editorial Board of The Journal of Industrial Economics and John Wiley & Sons Ltd 版權： Copyright Blackwell Publishing Ltd. Jun 2013 識別號： ISSN: 0022-1821 識別號： EISSN: 1467-6451 識別號： DOI: 10.1111/joie.12018 識別號： CODEN: JIEOAF
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