The Fixed Price Offer Mechanism in Trade Me Online Auctions
| dc.contributor.author | Hogan, S. | |
| dc.contributor.author | Kidd, H. | |
| dc.contributor.author | Meriluoto, L. | |
| dc.contributor.author | Smith, A. | |
| dc.date.accessioned | 2011-09-06T00:00:50Z | |
| dc.date.available | 2011-09-06T00:00:50Z | |
| dc.date.issued | 2010 | en |
| dc.description | WORKING PAPER No. 51/2010 | en |
| dc.description.abstract | The Fixed Price Offer (FPO) mechanism in Trade Me auctions allows sellers to make a take-it-or-leave-it offer at the conclusion of an unsuccessful auction. We investigate the effects of the FPO option on strategies and outcomes in independent-value auctions. The FPO option induces some bidders with a value above the seller’s reserve to wait for an FPO instead of bidding. Overall, the FPO option increases the probability of sale but reduces expected seller revenue compared to a standard auction. The impact of the FPO option is reduced when the number of bidders increases. | en |
| dc.identifier.citation | Hogan, S., Kidd, H., Meriluoto, L., Smith, A. (2010) The Fixed Price Offer Mechanism in Trade Me Online Auctions. Department of Economics and Finance Working Paper Series.. | en |
| dc.identifier.uri | http://hdl.handle.net/10092/5417 | |
| dc.language.iso | en | |
| dc.publisher | University of Canterbury. Department of Economics and Finance | en |
| dc.rights.uri | https://hdl.handle.net/10092/17651 | en |
| dc.subject | fixed price offer | en |
| dc.subject | private value auction | en |
| dc.subject | on-line auction | en |
| dc.subject | optimal reserve price | en |
| dc.subject | second chance offer | en |
| dc.subject.anzsrc | Fields of Research::38 - Economics::3802 - Econometrics::380203 - Economic models and forecasting | |
| dc.title | The Fixed Price Offer Mechanism in Trade Me Online Auctions | en |
| dc.type | Discussion / Working Papers |
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