What will people bid when they compare values to expected price?

This file is part of IDEAS, which uses RePEc data

What will people bid when they compare values to expected price?

Author Info

Leon Taylor (Marshall University)

Additional information is available for the following registered author(s):

Leon Taylor

Abstract

Suppose that the auctioneer begins at a maximum price, with every bidder knowing her own valuation of the object. Suppose that her valuation exceeds her expectation of the price. Then she might plan to bid more than some linear positive function of the valuation. Such a revision of the Vickrey strategy is most likely in a small auction, where it may affect the expected price. (JEL D44)

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

Publisher Info
Paper provided by EconWPA in its series Microeconomics with number 0004002.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 8 pages
Date of creation: 22 Apr 2000
Date of revision:
Handle: RePEc:wpa:wuwpmi:0004002

Note: Type of Document - Microsoft Word 2000; prepared on Compaq Presario PC; to print on HP; pages: 8; figures: none
Contact details of provider:
Web page: http://129.3.20.41

For technical questions regarding this item, or to correct its listing, contact: (EconWPA).

Find related papers by JEL classification:
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions

This paper has been announced in the following NEP Reports:

NEP-ALL-2001-02-14 (All new papers)

Statistics

Access and download statistics

Did you know? You can use IDEAS to provide links to papers and articles in your course syllabus.

This page was last updated on 2009-12-21.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.