Pay-to-Bid Auctions: Evidence from Czech Data

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F13%3A00074751" target="_blank" >RIV/00216224:14560/13:00074751 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Pay-to-Bid Auctions: Evidence from Czech Data
Original language description
This paper examines properties of pay-to-bid auctions. Pay-to-bid auctions represent a relatively new type of all-pay auctions in which participants have to pay a fee in order to increase the purchase price by a small fixed bidding increment. The playerwho submits the last bid wins the right to buy the auctioned item at the current purchase price, which is normally substantially lower than the value of the item. While most of the existing studies examine the data on the international server Swoopo.com,we present a unique dataset retrieved from the Czech auction site Bonus.cz. In the paper, we introduce econometric models that explain the total number of bids and seller?s revenue using data from the period between July 2009 and April 2010 where the basic properties of the auctions correspond to the stylized facts found in the US data. We compare the results with predictions of the model of payto- bid auctions introduced by [3].
Czech name
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Czech description
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Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 31st International Conference Mathematical Methods in Economics 2013
ISBN
9788087035764
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
494-499
Publisher name
College of Polytechnics Jihlava
Place of publication
Jihlava
Event location
Jihlava
Event date
Sep 11, 2013
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000335578000084

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