The Timing of Bids in Internet Auctions: Market Design, Bidder Behavior, and Artificial Agents

Authors

  • Axel Ockenfels
  • Alvin E. Roth

DOI:

https://doi.org/10.1609/aimag.v23i3.1658

Abstract

Many bidders in eBay use bidding strategies that involve late bids, incremental bids, or both. Based on field evidence, we discuss the manner in which late bids are caused both by sophisticated, strategic reasoning and by irrationality and inexperience; the interaction of late bidding with incremental bidding; and the relation between market design and artificial agent design.

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Published

2002-09-15

How to Cite

Ockenfels, A., & Roth, A. E. (2002). The Timing of Bids in Internet Auctions: Market Design, Bidder Behavior, and Artificial Agents. AI Magazine, 23(3), 79. https://doi.org/10.1609/aimag.v23i3.1658

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Section

Articles