Auctions on the Internet: What's Being Auctioned, and How?

David Lucking-Reiley
2003 Journal of Industrial Economics  
This paper is an economist's guide to auctions on the Internet. It traces the development of online auctions since 1993, and presents data from a comprehensive study of 142 di¡erent Internet auction sites. The results describe the transaction volumes, the types of auction mechanisms used, the types of goods auctioned, and the business models employed at the various sites. These new electronic-commerce institutions raise interesting questions for the economic theory of auctions, such as
more » ... g the types of goods to be sold at auction, examining the incentive e¡ects of varying auctioneer fee structures, and identifying the optimal auction formats for online sellers.
doi:10.1111/1467-6451.00122 fatcat:nivhnmdmxveuzb3lc4pmo4wbeu