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Order and Price in a Sequential Auction

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  • Lusht, Kenneth M
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    Abstract

    A sequential auction of commercial properties produced evidence that bid timing matters. Prices declined as the auction proceeded, an outcome consistent with expectations when bidders are either risk averse or quantity constrained. Copyright 1994 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Journal of Real Estate Finance & Economics.

    Volume (Year): 8 (1994)
    Issue (Month): 3 (May)
    Pages: 259-66

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    Handle: RePEc:kap:jrefec:v:8:y:1994:i:3:p:259-66

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    Web page: http://www.springerlink.com/link.asp?id=102945

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    Cited by:
    1. Emiel Maasland & Sander Onderstal, 2006. "Going, Going, Gone! A Swift Tour of Auction Theory and its Applications," De Economist, Springer, vol. 154(2), pages 197-249, June.
    2. Kathryn Graddy & Orley Ashenfelter, 2002. "Auctions and the Price of Art," Economics Series Working Papers 131, University of Oxford, Department of Economics.
    3. Stuart Kells, 2001. "Prices In Sequential Auctions: Preliminary Evidence From Australian Rare Book Auctions," Department of Economics - Working Papers Series 820, The University of Melbourne.
    4. 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).
    5. Orley Ashenfelter & Kathryn Graddy, 2002. "Art Auctions: A Survey of Empirical Studies," NBER Working Papers 8997, National Bureau of Economic Research, Inc.
    6. Stuart Kells, 2003. "Explaining The Breadth Of Expert Estimate Ranges In Auctions Of Rare Books," Department of Economics - Working Papers Series 873, The University of Melbourne.
    7. Stéphanie Vincent & Olivier Chanel, 1998. "La décroissance des prix au cours d'enchères séquentielles : sources et mesures," Économie et Prévision, Programme National Persée, vol. 132(1), pages 139-157.
    8. Archishman Chakraborty & Nandini Gupta & Rick Harbaugh, 2000. "First Impressions in a Sequential Auction," Econometric Society World Congress 2000 Contributed Papers 1705, Econometric Society.
    9. 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.
    10. Gerard Marty & Raphaele Preget, 2007. "A Socio-economic Analysis of French Public Timber Sales," Working Papers - Cahiers du LEF 2007-03, Laboratoire d'Economie Forestiere, AgroParisTech-INRA.
    11. Marcus T. Allen & Judith Swisher, 2000. "An Analysis of the Price Formation Process at a HUD Auction," Journal of Real Estate Research, American Real Estate Society, vol. 20(3), pages 279-298.
    12. Stevenson, Simon & Young, James & Gurdgiev, Constantin, 2010. "A comparison of the appraisal process for auction and private treaty residential sales," Journal of Housing Economics, Elsevier, vol. 19(2), pages 145-154, June.

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