IDENTIFYING LIABILITY OF FOREIGNNESS USING EBAY AUCTION RESULTS
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The purpose o f this paper is to identijj; the importance o f a home country bias on the part o f consumers as a source of Liability of Foreignness by examining whether the coin grading services of well-known companies are worth more or less to auction participants depending upon the country of residence of the buyerandthehomecountryofthegradingcompany. WefindthatresidentsofCanadaplaceasignificantly greater premium on the services of the Canadian rating agency relative to U.S. rating agencies. However, U.S. residents alsofavor the Canadian rating agency. Hence, wefind no specific evidence ofa home country purchasing bias when purchasing Canadian silver dollars on eBay.
Abstract
The purpose o f this paper is to identijj; the importance o f a home country bias on the part o f consumers as a source of Liability of Foreignness by examining whether the coin grading services of well-known companies are worth more or less to auction participants depending upon the country of residence of the buyerandthehomecountryofthegradingcompany. WefindthatresidentsofCanadaplaceasignificantly greater premium on the services of the Canadian rating agency relative to U.S. rating agencies. However, U.S. residents alsofavor the Canadian rating agency. Hence, wefind no specific evidence ofa home country purchasing bias when purchasing Canadian silver dollars on eBay.