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Competing Auctions

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Author Info
Glenn Allison
Drew Fudenberg

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Abstract

This paper studies the conditions under which two competing and otherwise identical markets or auction sites of different sizes can coexist in equilibrium, without the larger one attracting all of the smaller one’s patrons. We find that the range of equilibrium market sizes depends on the aggregate buyer-seller ratio, and also whether the markets are especially "thin. "

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Paper provided by Harvard - Institute of Economic Research in its series Harvard Institute of Economic Research Working Papers with number 1960.

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Date of creation: 2002
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Handle: RePEc:fth:harver:1960

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References listed on IDEAS
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.:
  1. Peters, Michael & Severinov, Sergei, 1997. "Competition among Sellers Who Offer Auctions Instead of Prices," Journal of Economic Theory, Elsevier, vol. 75(1), pages 141-179, July. [Downloadable!] (restricted)
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  2. Steven C. Salop, 1979. "Monopolistic Competition with Outside Goods," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 141-156, Spring. [Downloadable!] (restricted)
  3. Gehrig, Thomas, 1998. "Competing markets," European Economic Review, Elsevier, vol. 42(2), pages 277-310, February. [Downloadable!] (restricted)
  4. Stahl, Konrad, 1982. "Differentiated Products, Consumer Search, and Locational Oligopoly," Journal of Industrial Economics, Blackwell Publishing, vol. 31(1-2), pages 97-113, September. [Downloadable!] (restricted)
  5. Glenn Ellison & Drew Fudenberg, 2003. "Knife-Edge or Plateau: When do Market Models Tip?," Levine's Bibliography 506439000000000098, UCLA Department of Economics. [Downloadable!]
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  6. McAfee, R Preston, 1993. "Mechanism Design by Competing Sellers," Econometrica, Econometric Society, vol. 61(6), pages 1281-1312, November. [Downloadable!] (restricted)
  7. Satterthwaite, Mark A & Williams, Steven R, 1989. "The Rate of Convergence to Efficiency in the Buyer's Bid Double Auction as the Market Becomes Large," Review of Economic Studies, Blackwell Publishing, vol. 56(4), pages 477-98, October. [Downloadable!] (restricted)
  8. Caillaud, Bernard & Jullien, Bruno, 2001. "Chicken and Egg: Competing Matchmakers," CEPR Discussion Papers 2885, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  9. Caillaud, Bernard & Jullien, Bruno, 2001. "Competing cybermediaries," European Economic Review, Elsevier, vol. 45(4-6), pages 797-808, May. [Downloadable!] (restricted)
  10. Pagano, Marco, 1989. "Trading Volume and Asset Liquidity," The Quarterly Journal of Economics, MIT Press, vol. 104(2), pages 255-74, May. [Downloadable!] (restricted)
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  11. Cuny, Charles J, 1993. "The Role of Liquidity in Futures Market Innovations," Review of Financial Studies, Oxford University Press for Society for Financial Studies, vol. 6(1), pages 57-78. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Susan Athey & Glenn Ellison, 2009. "Position Auctions with Consumer Search," NBER Working Papers 15253, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Attila Ambrus & Rosella Argenziano, 2004. "Network Markets and Consumer Coordination," IEHAS Discussion Papers 0423, Institute of Economics, Hungarian Academy of Sciences. [Downloadable!]
    Other versions:
  3. Bochet, Olivier & Storcken, Ton, 2006. "Maximal Domains for Strategy-Proof or Maskin Monotonic Choice Rules," Research Memoranda 003, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
    Other versions:
  4. Tamar Kugler & Zvika Neeman & Nir Vulkan, 2003. "Markets Versus Negotiations: An Experimental Investigation," Discussion Paper Series dp319, Center for Rationality and Interactive Decision Theory, Hebrew University, Jerusalem. [Downloadable!]
    Other versions:
  5. MINGLI ZHENG & Robert McMillan & SAJID ANWAR, 2005. "Bidding Behavior in Competing Auctions: Evidence from eBay," Microeconomics 0505001, EconWPA. [Downloadable!]
    Other versions:
  6. Wheatley, W. Parker, 2003. "Survival And Ownership Of Internet Marketplaces For Agriculture," 2003 Annual meeting, July 27-30, Montreal, Canada 22214, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  7. Carlos Alós-Ferrer & Georg Kirchsteiger & Markus Walzl, 2007. "On the Evolution of Market Institutions: The Platform Design Paradox," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  8. Ernan Haruvy & Peter Popkowski Leszczyc & Octavian Carare & James Cox & Eric Greenleaf & Wolfgang Jank & Sandy Jap & Young-Hoon Park & Michael Rothkopf, 2008. "Competition between auctions," Marketing Letters, Springer, vol. 19(3), pages 431-448, December. [Downloadable!] (restricted)
  9. Damiano, Ettore & Li, Hao, 2005. "Competing Matchmaking," Micro Theory Working Papers damiano-05-01-25-10-08-07, Microeconomics.ca Website, revised 18 Oct 2005. [Downloadable!]
    Other versions:
  10. David McAdams & Michael Schwarz, 2007. "Credible Sales Mechanisms and Intermediaries," American Economic Review, American Economic Association, vol. 97(1), pages 260-276, March. [Downloadable!]
  11. Becker, Bo, 2006. "City Size and Financial Development," SIFR Research Report Series 46, Institute for Financial Research. [Downloadable!]
  12. Kurucu, Gokce, 2007. "Negative Network Externalities in Two-Sided Markets: A Competition Approach," MPRA Paper 9746, University Library of Munich, Germany. [Downloadable!]
  13. John Morgan & Henrik Orzen & Martin Sefton, 2006. "Network architecture and traffic flows," Discussion Papers 2006-12, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham. [Downloadable!]
  14. Glenn Ellison & Drew Fudenberg, 2003. "Knife-Edge or Plateau: When do Market Models Tip?," Levine's Bibliography 506439000000000098, UCLA Department of Economics. [Downloadable!]
    Other versions:
  15. John Morgan & Henrik Orzen & Martin Sefton, 2007. "Network Architecture and Traffic Flows: Experiments on the Pigou-Knight-Downs and Braess Paradoxes," Discussion Papers 2007-05, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham. [Downloadable!]
    Other versions:
  16. Behringer, Stefan, 2005. "Equilibrium Market and Pricing Structures in Virtual Platform Duopoly," MPRA Paper 3239, University Library of Munich, Germany, revised 15 Apr 2007. [Downloadable!]
  17. Stryszowska, M., 2004. "Late and multiple bidding in competing second price internet auctions," Discussion Paper 43, Tilburg University, Center for Economic Research. [Downloadable!]
  18. Rochet, Jean-Charles & Tirole, Jean, 2005. "Two-Sided Markets : A Progress Report," IDEI Working Papers 275, Institut d'Économie Industrielle (IDEI), Toulouse. [Downloadable!]
    Other versions:
    • Jean-Charles Rochet Author-Email: rochet@cict.fr Author-Workplace-Name: IDEI, University of Toulouse & Jean Tirole Author-Email: tirole@cict.fr Author-Workplace-Name: IDEI, University of Toulouse, 2006. "Two-Sided Markets: A Progress Report," RAND Journal of Economics, The RAND Corporation, vol. 37(3), pages 645-667, Autumn.
  19. Jesse A. Schwartz & Ricardo Ungo, 2003. "Merging Auction Houses," Working Papers 0303, Department of Economics, Vanderbilt University. [Downloadable!]
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