Abstract
Internet auctions have recently gained widespread popularity and are one of the most successful forms of electronic commerce. We examine a unique data set of eBay coin auctions to explore the determinants of bidder and seller behavior. We begin by documenting a number of empirical regularities in our data set of eBay auctions. Next, we specify and estimate a structural econometric model of bidding on eBay. Using our parameter estimates from this model, we measure the extent of the winner’s curse and simulate seller revenue under different reserve prices.
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