{'fraction_non_alphanumeric': 0.01878453038674033, 'fraction_numerical': 0.004419889502762431, 'mean_word_length': 4.6625, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 0, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
Determinants of Buy-It-Now Auction Choice on eBay

New rules that are not found in traditional auctions have surfaced in Internet auctions. One such rule is the buyout option, which allows a bidder to end the auction immediately by purchasing the item at a buyout price specified by the seller. Very little research has been carried out to examine the buyout option. This study conducted an exploratory analysis of the various factors affecting bidders’ choice of this new alternative. 1087 auction data of the Ty Beanie Baby Bears category at the eBay auction site were collected and analysed. The major findings from the empirical study are that the likelihood of bidders choosing the buyout option could be increased if sellers set (a) a lower buyout price with reference to other online prices, (b) a buyout price that is close to the starting minimum bid and (c) a longer duration for their auctions.