Bid or buy? individual shopping traits as predictors of strategic exit in on-line auctions

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Abstract

This paper examines the behavioral aspects of bidder conduct in on-line auctions. It utilizes price data from 113 on-line auctions, surveys of winning bidders, and draws upon the consumer behavior and auctions' literature to examine individual trait differences in shopping preferences that predict a buyer's decision to use "strategic exit," the fixed-price Buy-It-Now (BIN) functionality. It argues that impulse-buying tendencies, trait competitiveness, and hedonic need fulfillment are antecedents of strategic exit, and that hedonic need fulfillment moderates the effect of impulse-buying tendencies on strategic exit. Buyers who exit an auction early by using the BIN feature end up paying a higher than average price. Theoretical and practical implications for the design of electronic auctions and the process of selling goods are offered. Copyright © 2008 M.E. Sharpe, Inc.

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Angst, C., Agarwal, R., & Kuruzovich, J. (2008). Bid or buy? individual shopping traits as predictors of strategic exit in on-line auctions. International Journal of Electronic Commerce, 13(1), 59–84. https://doi.org/10.2753/JEC1086-4415130102

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