The Internet as a Third Party

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Presentation transcript:

The Internet as a Third Party K. Steiglitz 10/27/09 WWS451

The Internet as a Third Party K. Steiglitz 10/14/08 WWS451

   

English Vickrey eBay

Squeeze out the juice Private value model + Homo economicus + Vickrey + Nash = Revenue Equivalence and boring behavior

Unique items vs. Commodities … put back the passion Frenzy Greed Spite Suspicion Impatience Doubt Obsession

The online auction as a third party: Trusted Fast Global Low-cost Convenient Excites competition

The online auction as a third party: Trusted? Fast Global Low-cost Convenient Excites competition

The dark side Bidder collusion Fakes Ethics of trading in antiquities Shill bidding…