A framework for analyzing the impact of anonymous bidding on prices and price competition in a computerized auction
1985
Hamm, S.R. | Purcell, W.D. | Hudson, M.A.
Extract: Buyers on computerized auctions exhibit many of the characteristics expected in conventional auctions. They control the timing of bids and try to assess the buying strength on the market for that particular auction. Bidding is anonymous and the anonymity feature appears to increase the level of competition. Prices are higher because buyers continue to compete at the end of the auction, behavior which would not be expected in conventional auctions where biding is not anonymous. Computerized auctions featuring anonymous bidding may have the potential to increase competition in thin markets.
显示更多 [+] 显示较少 [-]