Automated Pricing Rules in Electronic Posted Offer Markets.
Internet markets are heralded as enhancing efficiency by providing buyers and sellers with an abundance of information. In these electronic markets, firms have the opportunity to employ “pricebots,” computerized algorithms that automatically adjust prices to prevailing market conditions. This articl...
| Publicado en: | Economic Inquiry Vol. 41; no. 2; pp. 208 - 224 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
April 2003
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510239252&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510239252 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: April 2003 vid: 41 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 510239252 10.1093/ei/cbg002 ppf: 208 ppct: 16 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.3MB tig: atl: Automated Pricing Rules in Electronic Posted Offer Markets. aug: au: Deck, Cary A. Wilson, Bart J. su: Algorithms Electronic commerce Internet auctions Pricing sug: subj: Algorithms Electronic commerce Internet auctions Pricing ab: Internet markets are heralded as enhancing efficiency by providing buyers and sellers with an abundance of information. In these electronic markets, firms have the opportunity to employ “pricebots,” computerized algorithms that automatically adjust prices to prevailing market conditions. This article uses laboratory methods to examine the potential market impact of the endogenous selection of three automated pricing algorithms: undercutting, low-price matching, and trigger pricing. We find that the undercutting algorithm leads to prices similar to the game-theoretic prediction. Low-price matching generates significantly higher prices, and trigger pricing results in market prices below the game-theoretic prediction. Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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