Posted Price Offers in Internet Auction Markets PDF Download

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Posted Price Offers in Internet Auction Markets

Posted Price Offers in Internet Auction Markets PDF Author: Stefan Seifert
Publisher: Springer Science & Business Media
ISBN: 3540352686
Category : Business & Economics
Languages : en
Pages : 194

Book Description
Applying a Market Engineering approach, this book introduces a model of an auction with a posted price offer, and investigates the characteristics of such mechanisms. It discusses the respective equilibrium strategies of sellers and the bidders, providing useful insight into actual behavior. The theoretic results are compared with strategies of students in a controlled experiment. The experimental observations expose shortcomings of standard economic theories and help to further improve electronic markets.
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