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Multiple-bidding in auctions as bidders become confident of their private valuations

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Author Info
Cotton, Christopher

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Abstract

A bidder may increase his bid over the course of an auction when (1) he becomes more certain about his private valuation over time (as he has more time to consider using the item), and (2) there is a positive probability he is unable to return to the auction to submit a bid in a later period.

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File URL: http://mpra.ub.uni-muenchen.de/5746/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1844.

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Date of creation: Sep 2007
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Handle: RePEc:pra:mprapa:1844

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Related research
Keywords: auction multiple bidding eBay value discovery

Find related papers by JEL classification:
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions

This paper has been announced in the following NEP Reports:

References listed on IDEAS
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  1. Bajari, Patrick & Hortacsu, Ali, 2003. " The Winner's Curse, Reserve Prices, and Endogenous Entry: Empirical Insights from eBay Auctions," RAND Journal of Economics, The RAND Corporation, vol. 34(2), pages 329-55, Summer.
  2. Alvin E. Roth & Axel Ockenfels, 2002. "Last-Minute Bidding and the Rules for Ending Second-Price Auctions: Evidence from eBay and Amazon Auctions on the Internet," American Economic Review, American Economic Association, vol. 92(4), pages 1093-1103, September. [Downloadable!] (restricted)
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  3. Eric Rasmusen, 2006. "Strategic Implications of Uncertainty over One's Own Private Value in Auctions," Advances in Theoretical Economics, Berkeley Electronic Press, vol. 6(1), pages 1261-1261. [Downloadable!] (restricted)
    Other versions:
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