摘要(英) |
The study intends to discover the relationship between the seller traits, auction characteristics and product characteristics under the eBay auction model by setting price as variable.
We have collected 3716 sample data of Toyota Camry from eBay motor. By conducting the analysis of narrative statistics, Heckman two stage model and probit model, we conclude 4 main findings for this study.
First, there is a significant positive correlation between final transaction price and initial bid price for auction merchandises. Moreover, the final transaction price is significantly higher, if the bidding frequency is high. The option for direct purchase – Buy It Now, does not influence the results mentioned above.
Second, from the perspective of narrative statistics, the final transaction price ranking under different auction circumstances can be concluded as:
1. Direct purchase price – “Buy It Now”
2. Bid price with direct purchase price option – “Buy It Now”
3. Bid price
However, from the result of Probit model, the relationship is only significant between direct purchase price and bid price.
Third, under the condition that the seller owns a dealership, the gap between direct purchase price (Buy It Now) and bid price is greater. Under the condition of promotion sell, direct purchase price (Buy It Now) tend to be close to a bid price.
Fourth, sellers tend to set direct purchase (Buy It Now) option for a high value used cars. The purchase rate is higher for a used car with low Kelly Blue Book valuation price, comparing to a used car with high Kelly Blue Book valuation price. |
參考文獻 |
Anderson Steven. Daniel Friedman, Garrett Mailam, and Nivikar Singh 2004. “Seller Strategies on eBay” UC Santa Cruz Economics Working Paper No.564
Anderson Steven , Daniel Friedman, Garrett Mailam, and Nivikar Singh 2008.“Buy it Now: A Hybrid Internet Market Institution” Journal of Electronic Commerce Research; Vol.9. No.2 pp.137-153
Ackerberg Daniel, Keisuke Hirano, and Quazi Shahriar 2006.“The buy it now Option, Risk Aversion and Impatience in an Empirical Model of eBay bidding” Working Paper.UCLA
Budish Eric B. and Lisa N. Takeyama 2001. ” Buy prices in online auctions: irrationality on the internet?” Economics Letters Vol.72, Issue 3, pp.325-333
Chen Jong-Rong, , Ching-I Huang, and Chiu-Yu Lee 2011., “How to Make an Offer? A Theoretical Model and Empirical Evidence from eBay Motors” Journal of Economic Behavior & Organization, 28, pp.1-9.
Chen Kong-Pin, Szu-Hsien Ho, Chi-Hsiang Liu, and Chien-Ming Wang 2012.“The seller’s Listing Strategy in Online Auctions: A Simple Theory”
Ding Anthony 2015. ”Buy it now: An Analysis of the Effect of Buy Price in Auction Listings” Working Paper. Stanford University
Gupta Shobhit and J´er´emie Gallien 2007. ”Temporary and Permanent Buyout Price in Online Auctions” MANAGEMENT SCIENCE Vol. 53, No. 5, pp. 814–833
Houser, D. and J. Wooders 2006. “Reputation in Auctions: Theory and Evidence from eBay,” Working paper
Hammond Robert G. 2010.” Comparing revenue from auctions and posted prices” International Journal of Industrial Organization Vol.28, Issue 1, pp. 1-9
Lucking D.-Reiley 2000.“Auctions on the Internet: What’s Being Auctioned,and How?” The Journal of Industrial Economics ,Vol.48, 3 Issue pp. 227–369
Mathews, T. 2003.“The Impact of Discounting on an Auction with a Buyout Option: a Theoretical Analysis Motivated by eBay’s Buy-It-Now Feature”,Journal of Economics Vol.81 No.1, pp.25-52
Mathews, T.and B.Katzman 2006. ”The Role of Varying Risk Attitudes in an Auction with a Buyout Option” Economic Theory, Vol. 27, Issue 3, pp. 597–613
Melnik Mikhail I. and James Alm 2005.”Seller Reputation, Information Signals, and Prices for Heterogeneous Coins on eBay” Southern Economic Journal, Vol. 72, No.2 pp. 305-328
Oh, Wonseok 2002. ”C2C Versus B2C:A Comparison of the winner’s curse in Two Types of Electronic Auctions,”International Journal of Electronic Commerce, Vol.6 pp.115-138
Reynolds, S. and J.Wooders, 2002. ”Ascending Bid Auction with a Buy-Now Price.” Working Paper.
Reynolds, S., and J. Wooders, 2006.“Auctions with a Buy Price”, Economic Theory Vol.38, Issue 1, pp. 9–39
Standifird Stephen S., Matthew R. Roelofs and Yvonne Durham 2004.“The Impact of eBay′s Buy-It-Now Function on Bidder Behavior” International Journal of Electronic Commerce, vol.9 pp.167-176.
Tucker Joanne M. and Victor J. Massad 2008.“Effect of Buyer and Seller Experience on Buy It Now Pricing”, Journal of Internet Commerce Vol.3 pp.101-115
Thaler Richard H. 1988.“The Winner’s Curse” The Journal of Economic Perspective, Vol.2, No.1 pp. 191-202
Wang, X., A. Montgomery and K. Srinivasan 2008. “When Auction Meets Fixed Price: A Theoretical and Empirical Examination of Buy-It-Now Auctions,” Quantitative Marketing & Economics. Vol. 6 Issue pp.339-370. |