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The Declining Price Anomaly in Dutch Dutch Rose Auctions

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Author Info

  • Gerard J. van den Berg
  • Jan C. van Ours
  • Menno P. Pradhan

Abstract

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.91.4.1055
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 91 (2001)
Issue (Month): 4 (September)
Pages: 1055-1062

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Handle: RePEc:aea:aecrev:v:91:y:2001:i:4:p:1055-1062

Note: DOI: 10.1257/aer.91.4.1055
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References

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  1. Gerard J. van den Berg & Jan C. van Ours & Menno P. Pradhan, 1999. "Declining Prices in the Sequential Dutch Flower Auction of Roses," Tinbergen Institute Discussion Papers 99-074/3, Tinbergen Institute.
  2. Chris Jones & Flavio Menezes & Francis Vella, 2004. "Auction Price Anomalies: Evidence from Wool Auctions in Australia," The Economic Record, The Economic Society of Australia, vol. 80(250), pages 271-288, 09.
  3. Wolfstetter, Elmar, 1996. " Auctions: An Introduction," Journal of Economic Surveys, Wiley Blackwell, vol. 10(4), pages 367-420, December.
  4. Laffont, J.J., 1996. "Game Theory and Empirical Economics: The Case of Auction Data," Papers 95.394, Toulouse - GREMAQ.
  5. Paul Milgrom & Robert J. Weber, 1981. "A Theory of Auctions and Competitive Bidding," Discussion Papers 447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Bernhardt, Dan & Scoones, David, 1993. "A Note on Sequential Auctions," Working Papers 829, California Institute of Technology, Division of the Humanities and Social Sciences.
  7. Robert J. Weber, 1981. "Multiple-Object Auctions," Discussion Papers 496, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Ashenfelter, Orley & Genesove, David, 1992. "Testing for Price Anomalies in Real-Estate Auctions," American Economic Review, American Economic Association, vol. 82(2), pages 501-05, May.
  9. GINSBURGH, Victor, . "Absentee bidders and the declining price anomaly in wine auctions," CORE Discussion Papers RP -1364, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Victor Ginsburgh & Pierre-Michel Menger, 1996. "Economics of the Arts: Selected essays," ULB Institutional Repository 2013/152420, ULB -- Universite Libre de Bruxelles.
  11. Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
  12. repec:dgr:uvatin:2099074 is not listed on IDEAS
  13. Black, Jane & De Meza, David, 1992. "Systematic Price Differences between Successive Auctions Are No Anomaly," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 1(4), pages 607-28, Winter.
  14. Branco, Fernando, 1997. "Sequential auctions with synergies: An example," Economics Letters, Elsevier, vol. 54(2), pages 159-163, February.
  15. Engelbrecht-Wiggans, Richard, 1994. "Sequential auctions of stochastically equivalent objects," Economics Letters, Elsevier, vol. 44(1-2), pages 87-90.
  16. Fl. Menezes & P.K.Monteiro, 1994. "Sequential Asymmetric Auctions With Endogenous Participation," Microeconomics 9402001, EconWPA, revised 09 Jun 1994.
  17. McAfee, R Preston & McMillan, John, 1987. "Auctions and Bidding," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 699-738, June.
  18. A. W. Coats, 1996. "Introduction," History of Political Economy, Duke University Press, vol. 28(5), pages 3-11, Supplemen.
  19. repec:dgr:uvatin:1999074 is not listed on IDEAS
  20. Beggs, A. & Graddy, K., 1996. "Declining Values and the Afternoon Effect: Evidence from Art Auctions," Economics Series Working Papers 99184, University of Oxford, Department of Economics.
  21. Gale, I. & Hausch, D., 1992. "Bottom-Fishing and Declining Prices in Sequential Auctions," Working papers 9215, Wisconsin Madison - Social Systems.
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Citations

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Cited by:
  1. Johannes Horner & Julian Jamison, 2006. "Private Information in Sequential Common-Value Auctions," Discussion Papers 1422, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Zulehner, Christine, 2009. "Bidding behavior in sequential cattle auctions," International Journal of Industrial Organization, Elsevier, vol. 27(1), pages 33-42, January.
  3. Tu, Zhiyong, 2010. "A Resale Explanation for the Declining Price Anomaly in Sequential Auctions," Review of Applied Economics, Review of Applied Economics, vol. 6(1-2).
  4. Grether, David M. & Plott, Charles R., 2009. "Sequencing strategies in large, competitive, ascending price automobile auctions: An experimental examination," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 75-88, August.
  5. Mezzetti, Claudio, 2008. "Aversion to Price Risk and the Afternoon Effect," The Warwick Economics Research Paper Series (TWERPS) 857, University of Warwick, Department of Economics.
  6. Olivier CHANEL & Stéphanie VINCENT, 2004. "Computing price trends in sequential auctions," Discussion Papers (REL - Recherches Economiques de Louvain) 2004043, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  7. Mishra, Debasis & Parkes, David C., 2009. "Multi-item Vickrey-Dutch auctions," Games and Economic Behavior, Elsevier, vol. 66(1), pages 326-347, May.
  8. Ginsburgh, V. & Ours, J.C. van, 2003. "How to Organize Sequential Auctions: Results of a Natural Experiment by Christie's," Discussion Paper 2003-25, Tilburg University, Center for Economic Research.
  9. Emiel Maasland & Sander Onderstal, 2006. "Going, Going, Gone! A Swift Tour of Auction Theory and Its Applications," De Economist, Springer, vol. 154(3), pages 481-481, September.
  10. Andrew Sweeting, 2008. "Equilibrium Price Dynamics in Perishable Goods Markets: The Case of Secondary Markets for Major League Baseball Tickets," NBER Working Papers 14505, National Bureau of Economic Research, Inc.
  11. Rasim Ozcan, 2004. "Sequential Auctions with Endogenously Determined Reserve Prices," Boston College Working Papers in Economics 592, Boston College Department of Economics.
  12. Nobuyuki Hanaki & Alan Kirman & Matteo Marsili, 2009. "Born Under a Lucky Star?," Tsukuba Economics Working Papers 2009-003, Economics, Graduate School of Humanities and Social Sciences, University of Tsukuba.
  13. Kannan, Karthik N., 2010. "Declining prices in sequential auctions with complete revelation of bids," Economics Letters, Elsevier, vol. 108(1), pages 49-51, July.

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