IDEAS home Printed from https://ideas.repec.org/a/eee/proeco/v132y2011i1p154-161.html
   My bibliography  Save this article

Sealed-bid auction of Netherlands mussels: Statistical analysis

Author

Listed:
  • Kleijnen, Jack P.C.
  • van Schaik, Frans D.J.

Abstract

This article presents an econometric analysis of the many data on the sealed-bid auction that sells mussels in Yerseke town, the Netherlands. The goals of this analysis are obtaining insight into the important factors that determine the price of these mussels, and quantifying the performance of an individual purchase manager. Besides a case-study, the article is a general study on the role of auctions in supply chains and on hedonic price factors.

Suggested Citation

  • Kleijnen, Jack P.C. & van Schaik, Frans D.J., 2011. "Sealed-bid auction of Netherlands mussels: Statistical analysis," International Journal of Production Economics, Elsevier, vol. 132(1), pages 154-161, July.
    • Handle: RePEc:eee:proeco:v:132:y:2011:i:1:p:154-161
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0925-5273(11)00161-7
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. van den Berg, G. & van Ours, J.C. & Pradhan, M.P., 1999. "Declining Prices in the Sequential Dutch Flower Auction of Roses," Discussion Paper 1999-52, Tilburg University, Center for Economic Research.
    2. McKelvey, Bill & Wycisk, Christine & Hülsmann, Michael, 2009. "Designing an electronic auction market for complex 'smart parts' logistics: Options based on LeBaron's computational stock market," International Journal of Production Economics, Elsevier, vol. 120(2), pages 476-494, August.
    3. Kleijnen, Jack P.C. & Deflandre, David, 2006. "Validation of regression metamodels in simulation: Bootstrap approach," European Journal of Operational Research, Elsevier, vol. 170(1), pages 120-131, April.
    4. Kenneth E. McConnell & Ivar E. Strand, 2000. "Hedonic Prices for Fish: Tuna Prices in Hawaii," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(1), pages 133-144.
    5. Jack P. C. Kleijnen & Bert Bettonvil & Willem Van Groenendaal, 1998. "Validation of Trace-Driven Simulation Models: A Novel Regression Test," Management Science, INFORMS, vol. 44(6), pages 812-819, June.
    6. Espinosa, Juan Andres & Goodwin, Barry K., 1991. "Hedonic Price Estimation For Kansas Wheat Characteristics," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-14, July.
    7. Victor A. Ginsburgh, 1998. "Absentee Bidders and the Declining Price Anomaly in Wine Auctions," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1302-1331, December.
    8. Yoo, Dong-il & Ohta, Hiroshi, 1995. "Optimal pricing and product-planning for new multiattribute products based on conjoint analysis," International Journal of Production Economics, Elsevier, vol. 38(2-3), pages 245-253, March.
    9. Jin, Mingzhou & Wu, S. David, 2006. "Supplier coalitions in on-line reverse auctions: Validity requirements and profit distribution scheme," International Journal of Production Economics, Elsevier, vol. 100(2), pages 183-194, April.
    10. Davis, George C., 1993. "Consumer's Specie Knowledge and the Values of Natural Christmas Tree Characteristics," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 25(1), pages 266-277, July.
    11. Elena Katok & Alvin E. Roth, 2004. "Auctions of Homogeneous Goods with Increasing Returns: Experimental Comparison of Alternative "Dutch" Auctions," Management Science, INFORMS, vol. 50(8), pages 1044-1063, August.
    12. Brown, Jeff E. & Ethridge, Don E. & Hudson, Darren & Engels, Carlos, 1995. "An Automated Econometric Approach For Estimating And Reporting Daily Cotton Market Prices," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(2), pages 1-14, December.
    13. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    14. Liston, Paul & Byrne, James & Byrne, P.J. & Heavey, Cathal, 2007. "Contract costing in outsourcing enterprises: Exploring the benefits of discrete-event simulation," International Journal of Production Economics, Elsevier, vol. 110(1-2), pages 97-114, October.
    15. Jack P.C. Kleijnen, 2015. "Design and Analysis of Simulation Experiments," International Series in Operations Research and Management Science, Springer, edition 2, number 978-3-319-18087-8, September.
    16. Berg, Gerard J. van den & Ours, Jan C. van & Pradhan, Menno P., 1999. "Declining prices in the sequential Dutch flower auction of roses," Serie Research Memoranda 0040, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    17. G. Anandalingam & S. Raghavan, 2005. "Introduction to the Special Issue on Electronic Markets," Management Science, INFORMS, vol. 51(3), pages 315-315, March.
    18. Narasimhan, Ram & Talluri, Srinivas & Mahapatra, Santosh, 2008. "Effective response to RFQs and supplier development: A supplier's perspective," International Journal of Production Economics, Elsevier, vol. 115(2), pages 461-470, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Siyuan Yi & Qiguo Gong & Feng Dong & Hui Wang, 2020. "The Effect of Planned Breaks on Worker Productivity and the Moderate Role of Workload in a Manufacturing Environment," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(12), pages 1366-1383, December.
    2. van Donselaar, K.H. & Peters, J. & de Jong, A. & Broekmeulen, R.A.C.M., 2016. "Analysis and forecasting of demand during promotions for perishable items," International Journal of Production Economics, Elsevier, vol. 172(C), pages 65-75.
    3. Shuang Xu & Yong Zhao & Yeming Gong, 2021. "Equivalence and revenue comparison among identical-item auctions," Journal of Economics, Springer, vol. 134(3), pages 261-292, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Smed, Sinne & Hansen, Lars Garn, 2018. "Consumer Valuation of Health Attributes in Food," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 43(2), May.
    2. van Schaik, F.D.J. & Kleijnen, J.P.C., 2001. "Sealed-Bid Auctions : Case Study," Other publications TiSEM dd93bf40-d790-4fd1-ac2c-f, Tilburg University, School of Economics and Management.
    3. Gerard J. van den Berg & Jan C. van Ours & Menno P. Pradhan, 2001. "The Declining Price Anomaly in Dutch Dutch Rose Auctions," American Economic Review, American Economic Association, vol. 91(4), pages 1055-1062, September.
    4. Shi, Wen & Liu, Zhixue & Shang, Jennifer & Cui, Yujia, 2013. "Multi-criteria robust design of a JIT-based cross-docking distribution center for an auto parts supply chain," European Journal of Operational Research, Elsevier, vol. 229(3), pages 695-706.
    5. De Silva, Dakshina G. & Gertsberg, Marina & Kosmopoulou, Georgia & Pownall, Rachel A.J., 2022. "Evolution of a dealer trading network and its effects on art auction prices," European Economic Review, Elsevier, vol. 144(C).
    6. Empen, Janine, 2011. "Preissetzung Auf Dem Deutschen Joghurtmarkt: Eine Hedonische Analyse," 51st Annual Conference, Halle, Germany, September 28-30, 2011 115362, German Association of Agricultural Economists (GEWISOLA).
    7. Hudson, Darren & Jones, Tom, 2001. "Willingness to Plant Identity Preserved Crops: The Case of Mississippi Soybeans," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 33(3), pages 475-485, December.
    8. Richards, Timothy J. & Jeffrey, Scott R., 1995. "Hedonic Pricing of Dairy Bulls - An Alternative Index of Genetic Merit," Project Report Series 24035, University of Alberta, Department of Resource Economics and Environmental Sociology.
    9. Bocart, Fabian Y.R.P. & Hafner, Christian M., 2015. "Fair Revaluation of Wine as an Investment," Journal of Wine Economics, Cambridge University Press, vol. 10(2), pages 190-203, November.
    10. Samuele Trestini & Alice Stiletto, 2020. "Does Italian origin really determine a price premium for fluid milk? Evidences from a hedonic price analysis," Economia agro-alimentare, FrancoAngeli Editore, vol. 22(1), pages 1-22.
    11. Masset, Philippe & Weisskopf, Jean-Philippe, 2018. "Wine indices in practice: Nicely labeled but slightly corked," Economic Modelling, Elsevier, vol. 68(C), pages 555-569.
    12. Roberts, Shane & Brooks, Kathleen & Nogueira, Lia & Walters, Cory G., 2022. "The role of quality characteristics in pricing hard red winter wheat," Food Policy, Elsevier, vol. 108(C).
    13. Cecilia Hammarlund, 2015. "The Big, the Bad, and the Average: Hedonic Prices and Inverse Demand for Baltic Cod," Marine Resource Economics, University of Chicago Press, vol. 30(2), pages 157-177.
    14. Kleijnen, Jack P.C., 2017. "Regression and Kriging metamodels with their experimental designs in simulation: A review," European Journal of Operational Research, Elsevier, vol. 256(1), pages 1-16.
    15. Skidmore, Marin & Baylis, Kathy & Arends-Kuenning, Mary P. & Michelson, Hope C., 2017. "The Effect of Intermediary Market Power on Grain Quality in India," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 259174, Agricultural and Applied Economics Association.
    16. Goodwin, Barry K. & Smith, Vincent H., 2009. "Harvest-Time Protein Shocks and Price Adjustment in U.S. Wheat Markets," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 34(2), pages 1-19, August.
    17. Wolff, François-Charles & Asche, Frank, 2022. "Pricing heterogeneity and transaction mode: Evidence from the French fish market," Journal of Economic Behavior & Organization, Elsevier, vol. 203(C), pages 67-79.
    18. Utami, Anisa & Harianto, Harianto & Krisnamurthi, Bayu, 2021. "Price Interdependence in Indonesian Rice Market in the Presence of Quality Differential," 2021 Conference, August 17-31, 2021, Virtual 315229, International Association of Agricultural Economists.
    19. Philippe Février & Laurent Linnemer & Michael Visser, 2007. "Buy or wait, that is the option: the buyer's option in sequential laboratory auctions," RAND Journal of Economics, RAND Corporation, vol. 38(1), pages 98-118, March.
    20. N. Koffi Amegbeto & Victor M. Manyong & Ousmane Coulibaly & Robert Asiedu, 2008. "Estimating market demand for fresh yam characteristics using contingent valuation: implications for crop breeding and production choices," Agricultural Economics, International Association of Agricultural Economists, vol. 39(3), pages 349-363, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:proeco:v:132:y:2011:i:1:p:154-161. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ijpe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.