TY  - JOUR
AU  - Bajari,Patrick
AU  - Hortacsu,Ali
TI  - Economic Insights from Internet Auctions: A Survey
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10076
PY  - 2003
Y2  - November 2003
UR  - http://www.nber.org/papers/w10076
L1  - http://www.nber.org/papers/w10076.pdf
N1  - Author contact info:
Patrick Bajari
Professor of Economics
University of Minnesota
4-101 Hanson Hall
1925 4th Street South
Minneapolis, MN 55455
Tel: 612/625-8369
Fax: 612/624-0209
E-Mail: bajari@econ.umn.edu

Ali Hortacsu
Department of Economics
University of Chicago
1126 East 59th Street
Chicago, IL  60637
Tel: 773/702-5841
E-Mail: hortacsu@uchicago.edu
AB  - This paper surveys recent studies of Internet auctions. Four main areas of research are summarized. First, economists have documented strategic bidding in these markets and attempted to understand why sniping, or bidding at the last second, occurs. Second, some researchers have measured distortions from asymmetric information due, for instance, to the winner's curse. Third, we explore research about the role of reputation in online auctions. Finally, we discuss what Internet auctions have to teach us about auction design.
ER  -