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Economic Insights from Internet Auctions

Bajari, Patrick, Hortaçsu, Ali·2004·Journal of Economic Literature

Abstract

This paper surveys recent studies of internet auctions. Four main areas of research are summarized. First, we survey several studies that document and attempt to explain the frequently observed sniping, or last-second bidding behavior, in these auctions. Second, we summarize several methods proposed to quantify the distortions caused by asymmetric information in these markets, most notably due to the winner's curse. Third, we explore research about the role of reputation mechanisms installed to help combat these distortions. Finally, we discuss what internet auctions have to teach us about auction design.

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Cites

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Research works printed but not linked: 40

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Cited by

Metadata

Authors
Bajari, P., & Hortaçsu, A.
Venue
Journal of Economic Literature
Published
2004-05-01
Volume
42
Issue
2
Pages
457-486
ISSN
0022-0515 (ISSN-L)
OpenAlex
W1979164116
Cited by
501
References
3
FWCI
47.68
Type
journal article
Language
en
Open access
closed

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