Online Auction Demand Online auctions represent a sizable and growing sector of the retail economy. As a result, there has been a proliferation in auctions research in recent years. However, few empirical papers consider the role of the seller in shaping the demand for auctions, a point we seek to redress. Sellers are an important component of the auctions environment because their listing beha...

We study the structure of an optimal management for innovative activities. The top management of a buyer hires a supplier for production. The production e¢ ciency can be enhanced by investing in R&D before production. The buyer chooses between using its own subunit for the R&D, or outsourcing the task to the supplier (integration of R&D and production). Our analysis reveals that (i) when the R&...

Despite the inherent risk arising from separating buyers and sellers, networked online marketplaces are proliferating. We describe how online auction marketplaces take advantage of institutional structures to build buyer trust in auction sellers, mitigate risk, increase satisfaction, and promote transaction intentions. It is hypothesized, based on institutional trust (Zucker 1986), that buyer t...

Applications for supporting pervasive computing and agility are the current trend in software development. The serviceoriented architecture (SOA) enables connection between consumers and service providers in a loosely-coupled way to improve flexibility and extensibility. This architecture is static, which utilizes predefined sequences of actions and fixed policies. Ongoing processes cannot adap...

This Economic Letter examines the link between house price dynamics in Ireland during the recent housing boom and the composition of buyers in the market. The analysis provides information on the relative riskiness of different buyer types, a topic that has increased in importance with the recent Central Bank of Ireland proposals to cap loan-to-value and loan-to-income ratios for new mortgage b...

Central to a firm’s growth and marketing policy is the revenue and profit potential of its customer assets. As a result, there has been a recent proliferation of work regarding customer lifetime value. However, extant research in this area is silent regarding how to assess the profitability of customers in a networked setting. In such settings, the presence of one type of customer can affect th...

In bargaining theory (and practice), outside options play an important role. Often, an important outside option is to wait for new developments. Maybe another agent will show up and offer better terms of trade, maybe new information will arrive reducing the information asymmetry, etc. Traders compare these potential benefits to costs of delaying trade and the risk that over time the opportunity...

We present a framework for defining trading scenarios based on fish market auctions. In these scenarios, trading (buyer and seller) heterogeneous (human and software) agents of arbitrary complexity participate in auctions under a collection of standardized market conditions and are evaluated against their actual market performance. We argue that such competitive situations constitute convenient...