Consumers' willingness to pay (WTP) is highly relevant to managers and academics, and
the various direct and indirect methods used to measure it vary in their accuracy, defined as …

This chapter surveys the contributions of laboratory experiments to labor economics. We
begin with a discussion of methodological issues: when (and why) is a lab experiment the …

Equity crowdfunding is a new form of entrepreneurial finance, in which investors do not
receive perks or engage in pre-purchase of the product, but rather participate in the future …

This study examines the relative effect of two types of scarcity messages (limited-quantity
and limited-time) on consumers' purchase intentions. The moderating influence of brand …

Electronic reputation or “feedback” mechanisms aim to mitigate the moral hazard problems
associated with exchange among strangers by providing the type of information available in …

Auctions on the Internet provide a new source of data on how bidding is influenced by the
detailed rules of the auction. Here we study the second-price auctions run by eBay and …

Reciprocity in feedback giving distorts the production and content of reputation information
in a market, hampering trust and trade efficiency. Guided by feedback patterns observed on …

This article discusses some things we have learned about markets, in the process of
designing marketplaces to fix market failures. To work well, marketplaces have to provide …

Can managers have an impact on their firm that goes beyond their direct actions and
decisions? This article shows that a manager with strong beliefs about the right course of …

In second price Internet auctions with a fixed end time, such as those on eBay, many bidders
submit their bids in the closing minutes or seconds of an auction. We propose an internet …