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| Tekijä: | Kazumori, E. McMillan, J. |
| Otsikko: | Selling online versus live |
| Lehti: | Journal of Industrial Economics
2005 : DEC, VOL. 53:4, p. 543-569 |
| Asiasana: | auctions bidding selling |
| Kieli: | eng |
| Tiivistelmä: | This paper discusses the tradeoff that a seller faces when choosing between auctioning online and live: lower transaction costs online against more rents left with the bidders. The authors model this tradeoff, and apply the theory to auctions of art. The crucial parameter for whether the seller does better online than live is not the expected price but the valuation uncertainty. |
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