Auction Sites
...University in Saint Louis *
Peter T. L. Popkowski Leszczyc, University of Alberta
Rajesh Bagchi, University of Colorado at Boulder
Richard P. Bagozzi, University of Michigan
James C. Cox, University of Arizona
Utpal M. Dholakia, Rice University
Eric A. Greenleaf, New York University
Amit Pazgal, Washington University in Saint Louis
Michael H. Rothkopf, Rutgers University
Michael Shen, University of Alberta
Shyam Sunder, Yale University
Robert Zeithammer, University of Chicago
* Correspondence should be addressed to Amar Cheema, Assistant Professor of Marketing, Olin School of Business, CB 1133, Washington University in St. Louis, St. Louis, MO 63130, Email: cheema@wustl.edu , Phone: (314) 925-6090. This paper is based on the special session at the 6th Triennial Invitational Choice Symposium, University of Colorado Boulder, June 2004 (co-chaired by the first two authors). The authors thank the editor and anonymous reviewers for insightful suggestions and comments.
Abstract
With increasing numbers of consumers in auction marketplaces, we highlight some recent approaches that bring additional economic, social, and psychological factors to bear on existing economic theory to better understand and explain consumers’ behavior in auctions. We also highlight specific research streams that could contribute towards enriching existing economic models of bidding behavior in emerging market mechanisms.
Key words: auctions, bidding, economic psychology, social dynamics, experimental economics
Scarce
The past decade has seen the advent and growth of online auction marketplaces, with online auction revenues expected to reach $36 billion by the year 2007 (C2C and B2C, Laudon and Traver 2004, p. 784). Study of specific auction formats for the past several decades has produced rich normative economic theories of rational buyers’ and sellers’ behavior...
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