Willingness to Pay and Competition in Online Auctions
نویسندگان
چکیده
منابع مشابه
Willingness to Pay and Competition in Online Auctions
We model how to measure consumer willingness to pay (WTP) from an English or ascending first-price auction based on two general bidding premises: no bidder bids more than her WTP, and no bidder allows a rival bidder to win at a price that she is willing to beat. In other words, we propose a " no regret " rule in bidding. Other than that, we do not impose restrictive assumptions on maximands or ...
متن کاملWillingness to Pay with Competition in Online Auctions
We model how to measure consumer willingness to pay (WTP) from an English or ascending first-price auction based on two general bidding premises: no bidder bids more than her WTP, and no bidder allows a rival bidder to win at a price that she is willing to beat. We thus impose no structural assumptions on rationality of bidders in a competitive auction context. Our approach is also based on the...
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In online commerce, a buyer cannot directly examine the product and has to rely heavily on the reliability of the seller. In this setting, the reputation of the seller, together with any other information signals on the quality of the product, can play an important role in determining the buyer’s willingness to pay for the good. However, while the impact of reputation on willingness to pay for ...
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Alok Gupta’s research is supported by NSF CAREER grant #IIS-0301239, but does not necessarily reflect the views of the NSF. Partial support for this research was also provided by TECI the Treibick Electronic Commerce Initiative, OPIM/School of Business, University of Connecticut. The authors also thank four anonymous reviewers and an associate editor for their valuable suggestions that have res...
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Designing optimal product configurations and assortments is a complex task and is likely to continue to be quite challenging as firms seek to provide consumers with more and more options. On the one hand, modularization and outsourcing enable companies to choose from a plethora of potential bundles of attributes. On the other hand, shorter product life cycles increase the opportunity cost of ro...
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ژورنال
عنوان ژورنال: Journal of Marketing Research
سال: 2007
ISSN: 0022-2437,1547-7193
DOI: 10.1509/jmkr.44.2.324