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Sequential auctions with synergies: The paradox of positive synergies

  • Leufkens, Kasper
  • Peeters, Ronald
  • Vermeulen, Dries

We show that synergies enhance bidding competition to such an extent that they are a curse rather than a blessing for the bidders.

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File URL: http://www.sciencedirect.com/science/article/B6V84-5133649-5/2/d9b0bcdd87b48b02d258bfe2e955e3e9
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 109 (2010)
Issue (Month): 3 (December)
Pages: 139-141

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Handle: RePEc:eee:ecolet:v:109:y:2010:i:3:p:139-141
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Alan Beggs & Kathryn Graddy, 1997. "Declining Values and the Afternoon Effect: Evidence from Art Auctions," RAND Journal of Economics, The RAND Corporation, vol. 28(3), pages 544-565, Autumn.
  2. 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.
  3. Lawrence M. Ausubel & Peter Cramton & R. Preston McAfee & John McMillan, 1998. "Synergies in Wireless Telephony: Evidence from the Broadband PCS Auctions," Papers of Peter Cramton 97jems, University of Maryland, Department of Economics - Peter Cramton, revised 09 Jun 1998.
  4. De Silva, Dakshina G. & Jeitschko, Thomas D. & Kosmopoulou, Georgia, 2005. "Stochastic synergies in sequential auctions," International Journal of Industrial Organization, Elsevier, vol. 23(3-4), pages 183-201, April.
  5. Dakshina G. De Silva, 2005. "Synergies in Recurring Procurement Auctions: An Empirical Investigation," Economic Inquiry, Western Economic Association International, vol. 43(1), pages 55-66, January.
  6. Olivier Chanel & St├ęphanie Vincent, 1999. "The Declining Price Effect in Sequential Auctions: What Theory Does Not Predict," CIE Discussion Papers 1999-13, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
  7. Thomas D. Jeitschko & Elmar Wolfstetter, 2002. "Scale Economies and the Dynamics of Recurring Auctions," Economic Inquiry, Western Economic Association International, vol. 40(3), pages 403-414, July.
  8. Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
  9. Menezes, Flavio M. & Monteiro, Paulo K., 2004. "Auctions with synergies and asymmetric buyers," Economics Letters, Elsevier, vol. 85(2), pages 287-294, November.
  10. Jane Black & David de Meza, 1992. "Systematic Price Differences Between Successive Auctionsare no Anomaly," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 1(4), pages 607-628, December.
  11. Branco, Fernando, 1997. "Sequential auctions with synergies: An example," Economics Letters, Elsevier, vol. 54(2), pages 159-163, February.
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