Ebay Buyers Save Billions

28 Jan

Independent research by two statisticians from the U of MD’s Robert H. Smith School of Business found buyers saved $7 billion that might otherwise have been paid in a study of eBay auction behavior in 2003.Using 2004 buyer data, consumers saved $8.4 billion. Rough numbers suggest that the # might be 19 billion in 2007.

The study seeks to calculate what economists call “consumer surplus” which is the difference between the top price buyers were willing to pay and what they actually paid.

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