https://scholars.lib.ntu.edu.tw/handle/123456789/426492
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. |
URI: | https://scholars.lib.ntu.edu.tw/handle/123456789/426492 | ISSN: | 01672681 | DOI: | 10.1016/j.jebo.2013.07.003 https://api.elsevier.com/content/abstract/scopus_id/84883509593 |
Appears in Collections: | 經濟學系 |
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