Economics, Psychology, and Social Dynamics of Consumer Bidding in Auctions
Marketing Letters, Vol. 16, Fall 2006
Posted: 13 Sep 2006
With increasing numbers of consumers in auction marketplaces, we highlight some recent approaches that bring additional economic, social, and psychological factors to bear on existing economic theory to better understand and explain consumer behavior in auctions. We also highlight specific research streams that could contribute towards enriching existing economic models of bidding behavior in emerging market mechanisms.
Keywords: auctions, bidding, economic psychology, social dynamics, experimental economics
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