✦ LIBER ✦
An exploratory analysis of the effect of the “buy it now” option on sellers' revenues in silent auctions
✍ Scribed by Karen Page
- Publisher
- John Wiley and Sons
- Year
- 2009
- Tongue
- English
- Weight
- 110 KB
- Volume
- 14
- Category
- Article
- ISSN
- 1465-4520
- DOI
- 10.1002/nvsm.349
No coin nor oath required. For personal study only.
✦ Synopsis
Abstract
This paper tests three competing hypotheses regarding the effect of a “buy it now” option in silent auctions: that the option has a positive, negative, or neutral effect on the seller's revenues. These hypotheses were tested on 4 years of data from a university art museum's silent auctions. The results indicate that the “buy it now” option has a significant negative effect on the seller's revenues. Possible explanation, implications, and limitations are discussed.
Copyright © 2009 John Wiley & Sons, Ltd.