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Le aste su internet

Nicola Dimitri*,
Università di Siena

With reference to the successful mechanisms adopted by eBay for its transactions, and by Google to sell advertising slots on its template, in the paper we discuss how the underlying common principle gets inspiration from the second price Vickrey auction. Therefore, currently auctions based on some second price principle are widely adopted. The main feature of Vickrey auction is truth revelation, one’s maximum willingness to pay is a weakly dominant strategy. Therefore a bidding strategy can be simple for participants, and we argue that internet may have encouraged auctions based on second price because of this property.

[JEL Classification:C72; D02; D44; D47].

Keywords: auctions; internet; Vickrey; eBay; Google; second price.

dimitri@unisi.it, Dipartimento di Economia Politica e Statistica.