![]() This dissertation studies the formation of prices on the art market and the auction mechanisms by using a unique hand-collected database. This research supports the perspective that bidders rely on others' bidding behavior and characteristics as an indication of the true value of the item on sale, and is one of the first studies in the literature which takes this perspective. The research includes two field studies and a lab experiment indicating that sniping appears to be influenced by social factors, that is, when there are a greater number of bidders in the auction or the auction site provides social information about the bidders, the relative use of sniping increases. Such a strategy conceals the intentions of the bidder until the last moments of the auction and minimizes the possibility of other opposing bidders submitting higher bids due to the short period of time left to respond. Sniping is a strategy of placing a bid on an item in the very ending stages of an auction with a pre-determined ending time in an attempt to win the auction. For more information, please visit research explores how social cues presented in an online auction affect sniping behavior. For more information on KOMPOLT, please visit The GRAMMY Foundation was established in 1989 to cultivate the understanding, appreciation and advancement of the contribution of recorded music to American culture - from the artistic and technical legends of the past to future generations of music professionals. For additional information on CSAB and its products, visit The auction is presented in partnership with KOMPOLT, the California-based online auction agency focused on creating successful, high-value, high-profile promotional and charity auctions for top brand companies, agencies and nonprofits. Dr Pepper, the sponsor of the 48th Grammy Charity Online Auction, is a leading brand in the beverage portfolio of Plano, Texas-based Cadbury Schweppes Americas Beverages (CSAB), a subsidiary division of Cadbury Schweppes plc (NYSE:CSG). Go to to place a bid on any item in this charity auction.
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