Faculty Publication by Xin Wang
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Faculty Member:
Xin Wang
Title of Publication:
"Online and Name-Your-Own-Price Auctions: A Literature Review"
Publication Type:
Forthcoming Paper
Year of Publication:
2008
Co-Authors:
Young-Hoon Park
Publication Details:
Vithala R. Rao (ed.), Handbook of Research in Pricing, Northampton, MA: Edward Elgar Publishing Inc.
Abstract:
With the explosive growth of activity in online auctions, considerable recent research studies this market mechanism. We survey recent theoretical, empirical, and experimental research on the effects of auction design parameters (including minimum price, buy price, and duration) and bidding strategies (including reference price, auction fever, and dynamic bidding behavior) in online auctions, as well as literature dealing with competition in online auctions. We also discuss the name-your-own-price mechanism, in which the buyer determines the price, which the seller can either accept or reject. The review concludes with a proposed agenda for future research.

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