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Bid Sensitivity in the Structure of the Vickrey Auction Author info | Abstract | Publisher info | Download info | Related research | Statistics Shogren, J. F.
Fox, J. A.
Hayes, Dermot
Kliebenstein, James
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A research study explored a version of economist W. Vickrey's second-price, sealed-bid auction used for the valuation of nonmarket goods. The sensitivity of revealed values generated by this variation were examined. A standard second-price auction with repeated market trials was compared to a random nth-price auction and a combinatorial private-collection auction with sequentially-revealed values. Results showed the consistency of revealed values in a low probability risk scenario.
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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number
10616.
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Date of creation: 19 Jun 2003Date of revision:
Publication status: Published in American Journal of Agricultural Economics, December 1994, Vol. 76, No. 5, pp. 1089-1095.Handle: RePEc:isu:genres:10616Contact details of provider: Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070 Phone: +1 515.294.6741 Fax: +1 515.294.0221 Email: Web page: http://www.econ.iastate.edu More information through EDIRC
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