ABSTRACT This paper aims to shed light on the complexities and difficulties in predicting the effects of trust and the experience of online auction participants on bid levels in online auctions. To provide some insights into learning by bidders, a field study was conducted first, to examine auction and bidder characteristics from eBay auctions of rare coins. We proposed that such learning is partly because of institutional-based trust. Data were then gathered from 453 participants in an online experiment and survey, and a structural equation model was used to analyze the results. This paper reveals that experience has a nonmonotonic effect on the levels of online auction bids. Contrary to previous research on traditional auctions, as online auction bidders gain more experience, their level of institutional-based trust increases and leads to higher bid levels. Data also show that both a bidder’s selling and bidding experiences increase bid levels, with the selling experience having a somewhat stronger effect. This paper offers an in-depth study that examines the effects of experience and learning and bid levels in online auctions. We postulate this learning is because of institutional-based trust. Although personal trust in sellers has received a significant amount of research attention, this paper addresses an important gap in the literature by focusing on institutional-based trust.

中文翻译：

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在线拍卖的信任和经验

摘要 本文旨在阐明在预测信任和在线拍卖参与者的经验对在线拍卖中的出价水平的影响方面的复杂性和困难。为了深入了解竞拍者的学习情况，首先进行了一项实地研究，以检查来自 eBay 稀有硬币拍卖的拍卖和竞拍者特征。我们提出这种学习部分是因为基于制度的信任。然后通过在线实验和调查从 453 名参与者那里收集数据，并使用结构方程模型来分析结果。本文揭示了经验对在线拍卖出价水平具有非单调影响。与以往对传统拍卖的研究相反，随着在线拍卖投标人获得更多经验，他们基于机构的信任水平增加并导致更高的投标水平。数据还表明，投标人的销售和投标经验都会提高投标水平，而销售经验的影响更大。本文提供了一项深入研究，探讨了在线拍卖中经验和学习以及出价水平的影响。我们假设这种学习是因为基于制度的信任。尽管对卖家的个人信任受到了大量的研究关注，但本文通过关注基于机构的信任解决了文献中的一个重要空白。本文提供了一项深入研究，探讨了在线拍卖中经验和学习以及出价水平的影响。我们假设这种学习是因为基于制度的信任。尽管对卖家的个人信任受到了大量的研究关注，但本文通过关注基于机构的信任解决了文献中的一个重要空白。本文提供了一项深入研究，探讨了在线拍卖中经验和学习以及出价水平的影响。我们假设这种学习是因为基于制度的信任。尽管对卖家的个人信任受到了大量的研究关注，但本文通过关注基于机构的信任解决了文献中的一个重要空白。