Sales Mechanisms in Online Markets: What Happened to Internet Auctions?

Sales Mechanisms in Online Markets: What Happened to Internet Auctions?

 

Consumer auctions were popular in the early days of internet commerce, but today online sellers mostly use posted prices. Why? Liran Einav examines two possible explanations: a shift in buyer demand away from auctions, and general narrowing of seller profit margins that favors posted prices.

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