From Knowledge@Wharton, a rare description of internet auction behavior outside the halls of Ebay:
Going Once ... Going Twice ... The Bidding Behavior of Buyers in Internet Auctions Would you like to go on an Internet auction site and know how much to bid for a certain item -- and also know that you didn't overpay for that item? How about when you sell an item in an online auction: Would you like to know what price to set that ensures you don't leave money on the online table? Wharton marketing and statistics professor Eric T. Bradlow [ Also known for supermarket cart path analysis ] can't provide specific answers. But he does offer guidance on the behavior of potential buyers in a new study entitled, "An Integrated Model for Bidding Behavior in Internet Auctions: Whether, Who, When, and How Much," recently published in the Journal of Marketing Research. Bradlow, who is also academic director of the Wharton Small Business Development Center, co-authored the study with Cornell marketing professor Young-Hoon Park. "To the best of our knowledge, this is the first attempt to model formally the behavioral aspects of bidding behavior for the entire sequence of bids in Internet auctions," the authors write..."
If you use reverse auctions then you will spend the most and would not have to worry about how much to bid.
Posted by: online auctions | December 17, 2006 at 03:08 PM