Selling mechanisms for perishable goods: An empirical analysis of an online resale market for event tickets

Waisman, Caio

doi:10.1007/s11129-021-09236-z

Cited by 8 publications

(1 citation statement)

References 37 publications

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“…Limited inventory has received much less attention in the literature. Using a structural model in the context of scarce perishable goods, Waisman (2021) shows that allowing sellers to have access to both posted prices and auctions significantly increases sellers' profits. Hammond (2010) argues that the size of a seller's inventory is the key factor in the choice between selling in an auction and posting a fixed price.…”

Section: Related Literaturementioning

confidence: 99%

Auctions versus posted prices in the revenue management of limited inventory

Maslov

2022

Manage Decis Econ

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The paper examines a monopolistic seller with a limited inventory, who can sell it by auctions or posted prices in an online market. Previous studies have investigated a seller with unlimited inventory and found that selling by auctions and posted prices is the profit‐maximizing strategy. Contrary to this finding, for limited inventory, mixing selling mechanisms is not always optimal. In particular, when the number of risk‐neutral buyers is high, listing the inventory by auctions generates the highest profit. When faced with risk‐averse buyers, selling by posted prices and auctions is the best strategy. Posted prices are almost always inferior to other listing strategies.

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Section: Related Literaturementioning

confidence: 99%

Auctions versus posted prices in the revenue management of limited inventory

Maslov

2022

Manage Decis Econ

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Effectiveness of Economic, Information and Social Processes of Train Station of Ticket Sales System

ml.

Kurtovic

Huber

et al. 2022

Studies in Systems, Decision and Control

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How do sellers benefit from Buy-It-Now prices in eBay auctions?

Grebe¹,

Ivanova‐Stenzel

Kröger

2021

Journal of Economic Behavior & Organization

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We investigate experimentally on eBay how sellers set prices in "Buy-It-Now" (BIN) auctions. We find that the eBay format leads to prices substantially below those expected in second-price auctions. Moreover, our results reveal that the information available on eBay about buyer experience and bidding behavior correlates with the observed price deviation. Sellers respond strategically to this information. More experienced sellers ask for higher BIN-prices, whereas seller risk aversion does not affect their price decisions. Compared to an eBay auction without a BIN-price, the BIN-auction is more efficient and generates significantly higher revenue.

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Selling mechanisms for perishable goods: An empirical analysis of an online resale market for event tickets

Cited by 8 publications

References 37 publications

Auctions versus posted prices in the revenue management of limited inventory

Auctions versus posted prices in the revenue management of limited inventory

Effectiveness of Economic, Information and Social Processes of Train Station of Ticket Sales System

How do sellers benefit from Buy-It-Now prices in eBay auctions?

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