Wolfgang Jank

New Research Finds Consumers Save More Than $7B by Shopping on eBay

College Park, Md. - January 28, 2008 - New research from the University of Maryland's Robert H. Smith School of Business finds that consumers save billions of dollars annually by buying goods through the online auction site eBay more than $7 billion in 2003, according to researchers. The study marks the first time this benefit to the overall economy has been quantified. The flip side of these benefits, however, is that sellers are leaving billions on the table that they could have charged buyers by setting higher prices.

Faculty Awards and Honors

Doron Avramov, associate professor of finance, received a Q-group award for his paper, “Credit Ratings and the Cross Section of Stock Returns.”

Hui Lao, associate professor of management and organization, received the 2009 Distinguished Early Career Contributions Award from the Society of Industrial and Organizational Psychology (SIOP) in recognition of her research.

Modeling the Dynamics of Online Auctions

Galit Shmueli, assistant professor of decision and information technologies, and Wolfgang Jank, assistant professor of decision and information technologies, investigate the bidding dynamics of auctions in their paper “Modeling the Dynamics of Online Auctions: A Modern Statistical Approach.” Shmueli and Jank describe the process as similar to that of studying a NASCAR race. Rather than focusing solely on the winner’s score, they look at route, speed, acceleration and other dynamic characteristics.

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