Synergies and Price Trends in Sequential Auctions
AbstractThis paper considers sequential auctions where an individual's value for a bundle of objects is either greater than the sum of the values for the objects separately (positive synergy) or less than the sum (negative synergy). The authors show that the existence of positive synergies implies declining expected prices. When synergies are negative, expected prices are increasing.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Australian National University - Department of Economics in its series Papers with number 366.
Length: 18 pages
Date of creation: 1999
Date of revision:
Contact details of provider:
Postal: THE AUSTRALIAN NATIONAL UNIVERSITY, DEPARTMENT OF ECONOMICS, RESEARCH SCHOOL of PACIFIC STUDIES, RESEARCH SCHOOL OF SOCIAL SCIENCES, G.P.O. 4, CANBERRA ACT 2601 AUSTRALIA..O. BOX 4 CANBERRA 2601 AUSTRALIA.
Web page: http://economics.anu.edu.au/economics.htm
More information through EDIRC
AUCTIONS ; GAME THEORY ; PRICES;
Other versions of this item:
- Paulo Klinger Monteiro & Flavio Menezes, 1999. "Synergies and Price Trends in Sequential Auctions," Microeconomics 9901002, EconWPA, revised 03 Feb 1999.
- Menezes, Flavio Marques & Monteiro, Paulo Klinger, 1999. "Synergies and Price Trends in Sequential Auctions," Economics Working Papers (Ensaios Economicos da EPGE) 360, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ashenfelter, O. & Genesove, D., 1992.
"Testing for Price Anomalies in real Estate Auctions,"
128, Princeton, Department of Economics - Financial Research Center.
- 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.
- Orley Ashenfelter & David Genesove, 1992. "Testing for Price Anomalies in Real Estate Auctions," NBER Working Papers 4036, National Bureau of Economic Research, Inc.
- Ashenfelter, O. & Genesove, D., 1992. "Testing for Price Anomalies in Real Estate Auctions," Working papers 92-2, Massachusetts Institute of Technology (MIT), Department of Economics.
- Bernhardt, Dan & Scoones, David, 1994.
"A Note on Sequential Auctions,"
American Economic Review,
American Economic Association, vol. 84(3), pages 653-57, June.
- Krishna, Vijay & Rosenthal, Robert W., 1996.
"Simultaneous Auctions with Synergies,"
Games and Economic Behavior,
Elsevier, vol. 17(1), pages 1-31, November.
- Krishna, V. & Rosenthal, R.W., 1995. "Simultaneous Auctions with Synergies," Papers 04-95-06, Pennsylvania State - Department of Economics.
- Vijay Krishna & Robert Rosenthal, 1995. "Simultaneous Auctions with Synergies," Game Theory and Information 9503004, EconWPA.
- Vijay Krishna & Robert Rosenthal, 1995. "Simultaneous Auctions with Synergies," Papers 0056, Boston University - Industry Studies Programme.
- Gandal, Neil, 1997. "Sequential Auctions of Interdependent Objects: Israeli Cable Television Licenses," Journal of Industrial Economics, Wiley Blackwell, vol. 45(3), pages 227-44, September.
- 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.
- Jones, C. & Menezes, F. & Vella, F., 1996. "Auctions Price Anomalies: Evidence from Wool Auctions in Australia," Papers 303, Australian National University - Department of Economics.
- Branco, Fernando, 1997. "Sequential auctions with synergies: An example," Economics Letters, Elsevier, vol. 54(2), pages 159-163, February.
- Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
- 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.
- Flavio Menezes & Paulo Monteiro, 1997.
"Sequential asymmetric auctions with endogenous participation,"
Theory and Decision,
Springer, vol. 43(2), pages 187-202, September.
- Fl. Menezes & P.K.Monteiro, 1994. "Sequential Asymmetric Auctions With Endogenous Participation," Microeconomics 9402001, EconWPA, revised 09 Jun 1994.
- Vanderporten, Bruce, 1992. "Strategic behavior in pooled condominium auctions," Journal of Urban Economics, Elsevier, vol. 31(1), pages 123-137, January.
- Vanderporten, Bruce, 1992. "Timing of Bids at Pooled Real Estate Auctions," The Journal of Real Estate Finance and Economics, Springer, vol. 5(3), pages 255-67, September.
- repec:wop:humbsf:1998-62 is not listed on IDEAS
- Thomas D. Jeitschko & Elmar Wolfstetter, 2002.
"Scale Economies and the Dynamics of Recurring Auctions,"
Western Economic Association International, vol. 40(3), pages 403-414, July.
- Jeitschko, Thomas D. & Wolfstetter, Elmar, 1998. "Scale economies and the dynamics of recurring auctions," SFB 373 Discussion Papers 1998,62, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- McAfee R. Preston & Vincent Daniel, 1993. "The Declining Price Anomaly," Journal of Economic Theory, Elsevier, vol. 60(1), pages 191-212, June.
- Veronika Grimm, 2006.
"Sequential versus Bundle Auctions for Recurring Procurement,"
Working Paper Series in Economics
27, University of Cologne, Department of Economics.
- Veronika Grimm, 2007. "Sequential versus Bundle Auctions for Recurring Procurement," Journal of Economics, Springer, vol. 90(1), pages 1-27, January.
- J. Reiß & Jens Schöndube, 2010.
"First-price equilibrium and revenue equivalence in a sequential procurement auction model,"
Springer, vol. 43(1), pages 99-141, April.
- Reiss, J. Philipp & Schöndube Jens Robert, 2007. "First-Price Equilibrium and Revenue Equivalence in a Sequential Procurement Auction Model," Research Memoranda 003, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
- Grigorieva Elena & Herings P. Jean-Jacques & Müller Rudolf & Vermeulen Dries, 2009.
"Inefficiency of equilibria in query auctions with continuous valuations,"
023, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
- Grigorieva, Elena & Herings, P. Jean-Jacques & Müller, Rudolf & Vermeulen, Dries, 2006. "Inefficiency of equilibria in query auctions with continuous valuations," Research Memoranda 017, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
- 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.
- Indranil Chakraborty, 2004. "Multi-Unit Auctions with Synergy," Economics Bulletin, AccessEcon, vol. 4(8), pages 1-14.
- Veronika Grimm, 2004. "On Procurement Auctions Of Complementary Goods," Working Papers. Serie AD 2004-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Das Varma, Gopal, 2003. "Bidding for a process innovation under alternative modes of competition," International Journal of Industrial Organization, Elsevier, vol. 21(1), pages 15-37, January.
- Menezes, Flavio M. & Monteiro, Paulo K., 2004. "Auctions with synergies and asymmetric buyers," Economics Letters, Elsevier, vol. 85(2), pages 287-294, November.
- 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.
- repec:ebl:ecbull:v:4:y:2004:i:8:p:1-14 is not listed on IDEAS
- Tang Sorensen, Soren, 2006. "Sequential auctions for stochastically equivalent complementary objects," Economics Letters, Elsevier, vol. 91(3), pages 337-342, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel).
If references are entirely missing, you can add them using this form.