Decision Sciences
4 years ago

Auction platforms should push users to switch for higher final prices!

Winter Simulation Conference
Switching behavior in online auctions: empirical observations and predictive implications
Wei Guo, William Rand, Wolfgang Jank

Paper Summary

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The article explores how people switch between online auctions for similar items. By analyzing real auction data and using simulations, the researchers found that switching to a low-price auction ending soon can lead to higher final prices and less price variation. This suggests that auction platforms should encourage users to switch to auctions with lower prices that are about to end.