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The Effect of Posted Prices on Auction Prices: An Empirical Investigation of a Multichannel B2B Market
MIS Quarterly ( IF 7.3 ) Pub Date : 2023-12-01 , DOI: 10.25300/misq/2022/17556
May Truong , , Alok Gupta , Wolfgang Ketter , Eric van Heck , , , ,

Although multichannel sales strategies have become common due to the use of advanced information technologies, how one trading mechanism can influence the outcome of another, especially in the B2B market, remains largely underexplored. This paper investigates the effect of price and quantity information from an online posted-price presales channel on the performance of the century-old sequential Dutch auction system. Sellers can control the price paid and make a proportion of their stock available in auction presales. Anything left after presales is sold via auctions. Our analysis of nearly 1.5 million flower lots reveals a positive effect with higher auction prices and total revenue for lots listed in presales than for lots that are not. The result holds even for lots with no actual sales in the presales, indicating that buyers pay close attention to the additional information from the posted-price presales channel. By teasing out the information effect of presales prices and presales quantity on auction prices, we evaluate a number of pricing strategies. The results suggest that selling at a high price in presales is still more beneficial than selling more by discounting prices.

中文翻译:

公布价格对拍卖价格的影响:多渠道 B2B 市场的实证研究

尽管由于先进信息技术的使用,多渠道销售策略已变得普遍,但一种交易机制如何影响另一种交易机制的结果,特别是在 B2B 市场中,在很大程度上仍未得到充分探索。本文研究了来自在线标价预售渠道的价格和数量信息对具有百年历史的顺序荷兰拍卖系统性能的影响。卖家可以控制支付的价格,并在拍卖预售中提供一定比例的库存。预售后剩下的任何东西都通过拍卖出售。我们对近 150 万件花卉拍品的分析表明,与未预售的拍品相比,预售拍品的拍卖价格和总收入更高,具有积极影响。即使对于预售中没有实际销售的拍品,该结果也成立,表明买家密切关注来自标价预售渠道的附加信息。通过梳理预售价格和预售数量对拍卖价格的信息效应,我们评估了多种定价策略。结果表明,在预售中以高价销售仍然比通过折扣价格销售更多更有利。
更新日期:2023-12-01
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