Posted Price Offers in Internet Auction Markets (Lecture Notes in Economics and Mathematical Systems) [Paperback]

Stefan Seifert (Author)

Book Description

Series: Lecture Notes in Economics and Mathematical Systems | Publication Date: October 5, 2006

Applying a Market Engineering approach, this book introduces a model of an auction with a posted price offer, and investigates the characteristics of such mechanisms. It discusses the respective equilibrium strategies of sellers and the bidders, providing useful insight into actual behavior. The theoretic results are compared with strategies of students in a controlled experiment. The experimental observations expose shortcomings of standard economic theories and help to further improve electronic markets.

Editorial Reviews

Review

From the reviews: "The book contains a study of a model describing an auction with a posted price offer (APPO). The idea of the investigation comes from internet auctions. … The analysis presented in the book can be rated among the studies applying the so called market engineering approach. … The book is up to date and its subject is presented in an accessible way with many references to the real internet auctions. This should make the book interesting for a wide audience of readers." (Malgorzata Doman, Zentralblatt MATH, Vol. 1108 (10), 2007)

Product Details

• Paperback: 198 pages
• Publisher: Springer; 1 edition (October 5, 2006)
• Language: English
• ISBN-10: 3540352651
• ISBN-13: 978-3540352655
• Product Dimensions: 9.2 x 6.1 x 0.6 inches
• Shipping Weight: 8.8 ounces (View shipping rates and policies)
• Amazon Best Sellers Rank: #5,074,387 in Books (See Top 100 in Books)

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