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Multiple and last-minute bidding in competing internet auctions

April 2013

Review of Economic Design


The present paper proposes a theoretical model of the equilibrium bidding behavior in simultaneous competing private-value Internet auctions such as those on eBay. It shows that last-minute bidding and multiple bidding, two commonly observed bidding strategies, arise in equilibrium. It also suggests that last-minute bidding may lead to inefficient outcomes.

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