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首页> 外文期刊>Atlantic economic journal >Remorse, Risk Aversion And Efficiency In Ebay Coin Auctions
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Remorse, Risk Aversion And Efficiency In Ebay Coin Auctions

机译：在ebay硬币拍卖中的悔，风险规避和效率

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摘要

Internet auctions are popular. Their ease of entry, low transaction costs, and the pervasiveness of computers make these markets accessible to almost anyone and, ultimately, very competitive. Here is an intriguing laboratory for the observation of economic behavior. Collectible coins, such as the U.S. Morgan silver dollars in our sample, may be sold to a dealer, bought from a dealer, or may be auctioned to the public, avoiding the middleman. To voluntarily participate, auction participants either expect to realize a selling price above the dealer's bid or expect to pay a price below a dealer's ask price. We investigate these auctions for buyer's remorse (BR), when the winning bidder pays more than the dealer's ask price; seller's remorse (SR), when either the coin does not sell (the seller still incurs eBay fees), or when the selling price is below the dealer's bid price; and the incidence of efficient auction outcomes, defined as when the auction is advantageous to both buyer and seller because the winning bid is between the dealer's ask and bid prices.
机译：互联网拍卖很受欢迎。它们的易进入性，低廉的交易成本以及计算机的普及使几乎任何人都可以进入这些市场，最终，它们的竞争非常激烈。这是一个观察经济行为的有趣实验室。可收集的硬币（例如我们样本中的美国摩根银币）可以出售给经销商，从经销商处购买，或者可以向公众拍卖，从而避免中间商。为了自愿参加，拍卖参与者要么期望实现高于经销商出价的销售价格，要么期望支付低于经销商要价的价格。当中标者支付的价格高于经销商的要价时，我们将对这些拍卖进行​​调查，以了解买方的mor悔（BR）。当硬币不出售（卖方仍然产生eBay费用），或者当售价低于经销商的买入价时，卖方的mor悔（SR）；有效拍卖结果的发生率，定义为何时竞标对买卖双方都有利，因为中标价介于交易商的要价和投标价之间。

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