Synergies and Price Trends in Sequential Auctions
This paper considers sequential auctions where an individual's value for a bundle of objects is either greater than the sum of the values for the objects separately (positive synergy) or less than the sum (negative synergy). The authors show that the existence of positive synergies implies declining expected prices. When synergies are negative, expected prices are increasing.
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- Jones, C. & Menezes, F. & Vella, F., 1996.
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303, Australian National University - Department of Economics.
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"Sequential Asymmetric Auctions With Endogenous Participation,"
9402001, EconWPA, revised 09 Jun 1994.
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American Economic Review,
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- McAfee R. Preston & Vincent Daniel, 1993. "The Declining Price Anomaly," Journal of Economic Theory, Elsevier, vol. 60(1), pages 191-212, June.
- Jeitschko, Thomas D. & Wolfstetter, Elmar, 1998.
"Scale economies and the dynamics of recurring auctions,"
SFB 373 Discussion Papers
1998,62, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- 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.
- Black, Jane & De Meza, David, 1992.
"Systematic Price Differences between Successive Auctions Are No Anomaly,"
Journal of Economics & Management Strategy,
Wiley Blackwell, vol. 1(4), pages 607-28, Winter.
- 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.
- Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
- Gandal, Neil, 1997. "Sequential Auctions of Interdependent Objects: Israeli Cable Television Licenses," Journal of Industrial Economics, Wiley Blackwell, vol. 45(3), pages 227-44, September.
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- Bernhardt, Dan & Scoones, David, 1993.
"A Note on Sequential Auctions,"
829, California Institute of Technology, Division of the Humanities and Social Sciences.
- Vanderporten, Bruce, 1992. "Strategic behavior in pooled condominium auctions," Journal of Urban Economics, Elsevier, vol. 31(1), pages 123-137, January.
- Krishna, V. & Rosenthal, R.W., 1995.
"Simultaneous Auctions with Synergies,"
04-95-06, Pennsylvania State - Department of Economics.
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