“Bid more, pay less” – overbidding and the Bidder’s curse in teleshopping auctions

Electronic Markets on digitalization

“…It denotes the observation that in their desire to purchase a certain good, buyers tend to pay more than the fixed price. Based on a large dataset of recorded bids in Dutch auctions, Fabian Ocker found that offline bidders experienced overbidding more often than online bidders and that learning effects were absent, even for active customers (Ocker 2018). & The third paper poses the question BName it as you like it?^, which picks up the observation that terminology in the IT domain is fast changing.…”