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Dual Mechanism in Electronic Retailing

In the past, a retailer usually chose only one market mechanism, either a posted price or an auction, for a product. However, currently some web stores sell a product at a posted price and simultaneously run auctions for the identical product. This new phenomenon has not been studied fully yet. We study a new selling mechanism, Dual Mechanism, where an online retailer combines two famous conventional mechanisms (Posted Price and Auction) together. This paper presents our initial work towards understanding of this mechanism.