主题：Goodwill Can Hurt: A Theoretical and Experimental Investigation of Return Policies in Auctions
主讲人：上海财经大学 杜宁华副教授
主持人：经济与管理研究院 梁平汉 副教授
时间：11月16日（星期一）下午2:00～3:30
地点：格致楼1211会议室
主办单位：财政税务学院、经济与管理研究院、科研处
主讲人简介：
杜宁华，上海财经大学经济学院常任副教授，上海财经大学经济学院院长助理，亚利桑那大学经济学博士（2005年）。研究实验经济学，应用微观经济学，产业组织，应用计量经济学等，曾在Games and Economic Behavior, Journal of Economic Behavior and Organization, European Economic Review, Decision Support Systems，《管理科学学报》等国内外一流期刊发表论文，著有《实验经济学》、《实验经济学教程》由上海财经大学出版社出版。
论文摘要
Will generous return policies in auctions benefit bidders? We investigate this issue using second-price common-value auctions. Theoretically, we find that the bidding equilibrium is unique unless returns are free, in which case there exist multiple equilibria with different implications for sellers. Moreover, more generous return policies hurt bidders by eroding consumer surplus through higher bids. In the experiment, bids increase and bidders’ earnings decrease with more generous return policies as predicted. With free returns, many bidders bid above the highest possible value, subsequently returning the item regardless of value. Though consistent with equilibrium behavior, this is not optimal for sellers.
