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Tractors on eBay: Differences between Internet and In-Person Auctions

Author

Listed:
  • Florian Diekmann
  • Brian E. Roe
  • Marvin T. Batte

Abstract

We provide a systematic examination of the differences between Internet and in-person auction prices for used tractors. A hedonic model estimated with transactions pooled between eBay and in-person auctions reveals statistically distinct price surfaces for the two auction venues and predicts significantly lower prices for comparable equipment sold on eBay, though this difference is attenuated for tractors fully covered by eBay's buyer protection program and is fully absent for the most frequently traded tractor. An endogenous venue selection model reveals that larger, more valuable tractors from states with more valuable stocks of machinery are more likely to be offered on eBay. Copyright 2008, Oxford University Press.

Suggested Citation

  • Florian Diekmann & Brian E. Roe & Marvin T. Batte, 2008. "Tractors on eBay: Differences between Internet and In-Person Auctions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(2), pages 306-320.
    • Handle: RePEc:oup:ajagec:v:90:y:2008:i:2:p:306-320
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2007.01113.x
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    Cited by:

    1. Feuz, Ryan, 2023. "Hedonic Price Analysis of Used Tractors," Applied Economics Teaching Resources (AETR), Agricultural and Applied Economics Association, vol. 5(1), January.
    2. Daninger, Nathan & Gunderson, Michael A., 2017. "The Pricing and Depreciation Patterns of Used Tractors," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258282, Agricultural and Applied Economics Association.
    3. Eric Overby & Chris Forman, 2011. "The Effect of Electronic Commerce on Geographic Trade and Price Variance in a Business-to-Business Market," Working Papers 11-30, NET Institute.
    4. Milovanović, Slavoljub, 2014. "The Role And Potential Of Information Technology In Agricultural Improvement," Economics of Agriculture, Institute of Agricultural Economics, vol. 61(2), pages 1-15, June.
    5. Kevin Hasker & Robin Sickles, 2010. "eBay in the Economic Literature: Analysis of an Auction Marketplace," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 37(1), pages 3-42, August.

    More about this item

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness

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