|Title:||Buyer behavior under the Best Offer mechanism: A theoretical model and empirical evidence from eBay Motors||Authors:||Huang, Ching I.
Chen, Jong Rong
Lee, Chiu Yu
|Keywords:||Best Offer | E-commerce | EBay | Haggling||Issue Date:||1-Oct-2013||Publisher:||ELSEVIER SCIENCE BV||Journal Volume:||94||Start page/Pages:||11||Source:||Journal of Economic Behavior and Organization||Abstract:||
We use data from eBay Best Offer listings to analyze haggling over prices in transactions with one seller and a series of potential buyers for a limited-supply product. We characterize this transaction mechanism as a sequential-move game to investigate buyer behavior. Our model suggests that a buyer's offer price increases in relations to the number of buyers who have previously made an offer on the item and the Buy-It-Now price chosen by the seller. On the other hand, the offer price decreases for items which have been listed on eBay for a longer period of time. We empirically test our theoretical predictions using data on the sales of Toyota Camry cars on eBay Motors. The empirical evidence is consistent with our model. © 2013 Elsevier B.V.
|Appears in Collections:||經濟學系|
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