SELLING ONLINE VERSUS LIVE

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http://onlinelibrary.wiley.com/doi/10.1111/joie.2005.53.issue-4/issuetoc
Authors: 
EIICHIRO KAZUMORI and JOHN MCMILLAN

A seller choosing between auctioning online and live faces a tradeoff: lower transaction costs online against more rents left with the bidders. We 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.

Pages: 
543-569
Date: 
12/16/2005
Related issue: 
Issue 4
Related volume: 
Volume 53

Published with

© 2013 The journal of Industrial Economics, Ltd.