Radically New Product Introduction Using On-line Auctions
Xianjun Geng, Maxwell B. Stinchcombe, and Andrew B. Whinston
International Journal of Electronic Commerce,
Volume 5, Number 3, Spring 2001, pp. 169.
Abstract: Rapid technological innovation and changing market expectations in electronic commerce are pushing companies to develop strategies for radically new products. Fast and unbiased new marketing research methods are needed to reduce the associated risks. A full-revelation mechanism is a crucial element of these new methods. It can be implemented with a two-round, second-price, sealed-bid auction. The process of marketing research is accelerated by conducting the auction on-line.
Key Words and Phrases: Full revelation, marketing research, new product introduction, on-line auctions.