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Dynamic Pricing in Name-Your-Own-Price Channels: Bidding ...

Dynamic Pricing in Name-Your-Own-Price Channels: Bidding ...

We created four

We created four different between-subject treatments: Two markets applied a static threshold pricewhereas the remaining two applied an adaptive threshold price. We also varied the information we gaveto the subjects. In two markets the subjects were informed about the threshold-rule (static or adaptive)whereas in the remaining two markets this information was omitted. Table 1 summarizes the scenarios.This between-subject design allows us to control for (i) the influence of an adaptive threshold vs. astatic threshold on bidding behavior and seller profit and (ii) the subjects’ awareness about the specificthreshold policy has an impact on their behavior.Static Threshold Adaptive ThresholdNo Info Market 1 Market 3Info Market 2 Market 4Table 1. Experimental setupIn the markets with a static threshold price, bids are accepted when they hit or surpass the thresholdprice whereas in markets with adaptive threshold price an automated proxy system evaluates the bidsequence following our normative model and applies an optimal threshold price for a high-WTP or a low-WTP buyer based on its current estimate of consumer type (i.e. low-WTP or high-WTP).We further gathered data on the acceptance and perceived fairness of the specific mechanism in a postpurchasesurvey.Current Research Status, Preliminary Results and Timeline116 students at a large Western-European university participated in the first series of laboratoryexperiments. Table 2 shows that markets applying an adaptive threshold price have higher rates ofaccepted bids (p

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