Penny Auctions

About this item

Title

Penny Auctions

Content partner

The University of Auckland Library

Collection

ResearchSpace@Auckland

Description

The low setup cost of online auction platforms has facilitated the creation of new varieties of auction formats. A popular new auction variety invented by a German company ‘Swoopo’ in 2005 requires participants pay a small fee at each time of bidding (Platt et al., 2012). It was named Penny Auction, as each bid increased the current price by a fixed small increment, which was usually one cent. Swoopo’s success has brought hundreds of competitors running similar format pay-to-bid auctions arou...

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Format

Research paper

Research format

Thesis

Thesis level

Doctoral

Date created

2018

Creator

Chen, Hao

URL

http://hdl.handle.net/2292/37638

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