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西安电子科技大学=====经济管理
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来源:www.gx-xust.com 作者:西安科技大学高新学院 添加时间:2017-08-12 10:34 人气:

   Online entertainment shopping, normally supported by the pay-to-bid auction mechanism, represents an innovative business model in e-commerce. Because the unique selling mechanism combines features of online auction and shopping, consumers expect both entertainment value and monetary return from their participation. We propose a dynamic structural model to analyze consumer behaviors on entertainment shopping websites. The model captures a consumer’s learning process both from her own participation experiences and from the observational learning of historical auction information. We estimate the model using a large data set from an online entertainment shopping website. Results show that consumers’ initial participation incentives mainly come from a significant overestimation of the entertainment value and an obvious underestimation of the auction competition. Both types of learning contribute to a general decreasing participation trend among consumers over time. Our model further identifies two groups of consumers with different risk characteristics: One group is risk-averse and quits the website before effective learning takes place, while the other group exhibits risk-seeking behavior and overly commits to the auction games. Based on the estimated parameters of the model, we perform counterfactual analyses to evaluate the effects of policy changes on consumers’ participation behaviors. We discuss several important design implications and recommend strategies for building a sustainable business model in the entertainment shopping industry.

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