‘Competencia en las Subastas en Internet’

John Wooders

The owners of these items will not usually have the monopoly power the theory ascribes to them: indeed their market power is extremely modest. The aim of this research is to observe how the conclusions of the standard theory are altered by competition. It addressed two points in particular:

a) how the reserve price chosen, public or secret, influences the outcome of Internet auctions as regards seller income, number and distribution of bidders and the amount of the surplus generated, and

b) the impact of competition between sellers on auction outcomes: the role of public reserve prices in stimulating competition, the market effect on adjudication prices and trading volumes, how the presence of more sellers affects prices and quantities, and relationship with competitive market prices.