Huang, Ching I.Ching I.HuangChen, Jong RongJong RongChenLee, Chiu YuChiu YuLee2019-10-092019-10-092013-10-0101672681https://scholars.lib.ntu.edu.tw/handle/123456789/426492We 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.Best Offer | E-commerce | EBay | Haggling10.1016/j.jebo.2013.07.0032-s2.0-84883509593WOS:000327172300002https://api.elsevier.com/content/abstract/scopus_id/84883509593