Psychology Commons^™

Measuring Emotions In Electronic Auctions, Marc Adam

Marc T. P. Adam

Auctions are nowadays a popular and frequently employed market mechanism in electronic markets. In economic literature, the success of electronic auctions has been largely attributed to the reduction of transaction costs, the large number of potential buyers, and the independence of time and space. However, an additional explanation for the success of electronic markets, and in particular Internet consumer auctions, is the hedonic or emotional value bidders derive from auction participation. The emotionality bidders experience in Internet auctions confronts a market engineer of electronic markets with two important challenges, regarding both the auction mechanism design and the user interface design. …