摘要： •We use data from eBay Best Offer listings to analyze buyers’ offer prices under a haggling mechanism.•Our study focuses on transactions with one seller and a series of potential buyers for a limited-supply product.•Both the theoretical model and the empirical evidence find offer prices to increase in the announced Buy-It-Now price.•Offer prices are also found to increase in the number of buyers who have previously made an offer on the item.•Offer prices for a given item are found to decline over time. 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. 出版者： Amsterdam: Elsevier B.V 出版日期： 2013-10-01 出處： Journal of economic behavior & organization, 2013-10, Vol.94, p.11-33 版權： 2013 Elsevier B.V. 版權： Copyright Elsevier Sequoia S.A. Oct 2013 識別號： ISSN: 0167-2681 識別號： EISSN: 1879-1751 識別號： DOI: 10.1016/j.jebo.2013.07.003 識別號： CODEN: JEBOD9
