Decision Sciences
4 years ago

Dynamic auctions boost profits and efficiency in online trading platforms!

SSRN Electronic Journal
Dynamic Auctions with Buy-It-Now Pricing: A Practical Design Model and Experimental Evaluation
Roumen Vragov, Di Shang, Karl R. Lang

Paper Summary

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Dynamic auctions with buy-it-now pricing can improve the performance of online auctions. By testing this with real people in a simulated trading environment, it was found that using dynamic prices increases seller profits and overall efficiency. This method could help make online auctions more effective and profitable.