Competing Auction Houses
We consider a model where sellers make repeated attempts to sell an object via two competing auction houses. An auction house that attracts a seller runs a Vickrey auction among a random sample of buyers and collects two fees: a listing fee and, if the object is sold, a closing fee. We characterize equilibria and show that two equilibrium outcomes are possible: a (contestable) monopoly, and a market segmentation between the two competitors.
|Date of creation:||Apr 2009|
|Date of revision:||Mar 2010|
|Note:||Under review in Games and Economic Behavior|
|Contact details of provider:|| Postal: |
Web page: http://www.kse.org.ua/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Rod Garratt & Thomas Tröger, 2006.
"Speculation in Standard Auctions with Resale,"
Econometric Society, vol. 74(3), pages 753-769, 05.
- Rod Garrat & Thomas Tröger, 2005. "Speculation in Standard Auctions with Resale," Bonn Econ Discussion Papers bgse10_2005, University of Bonn, Germany.
- Rod Garratt & Thomas Troger, 2004. "Speculation in Standard Auctions with Resale," Microeconomics 0405005, EconWPA.
- Garratt, Rod & Tröger, Thomas, 2005. "Speculation in Standard Auctions with Resale," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 42, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Haile,P.A., 1999. "Auctions with resale," Working papers 33, Wisconsin Madison - Social Systems.
- Subir Bose & George Deltas, 2007. "Exclusive Versus Non-exclusive Dealing in Auctions with Resale," Economic Theory, Springer, vol. 31(1), pages 1-17, April.
- Haile, Philip A., 2003. "Auctions with private uncertainty and resale opportunities," Journal of Economic Theory, Elsevier, vol. 108(1), pages 72-110, January.
- repec:att:wimass:9702 is not listed on IDEAS
- Alexander Matros & Andriy Zapechelnyuk, 2008.
"Optimal fees in internet auctions,"
Review of Economic Design,
Springer, vol. 12(3), pages 155-163, September.
- Haile, Philip A., 2000. "Partial Pooling at the Reserve Price in Auctions with Resale Opportunities," Games and Economic Behavior, Elsevier, vol. 33(2), pages 231-248, November.
- McAfee, R. Preston & Vincent, Daniel, 1997.
"Sequentially Optimal Auctions,"
Games and Economic Behavior,
Elsevier, vol. 18(2), pages 246-276, February.
- Drew Fudenberg & David K. Levine & Jean Tirole, 1985. "Infinite-Horizon Models of Bargaining with One-Sided Incomplete Information," Levine's Working Paper Archive 1098, David K. Levine.
- Gupta, Madhurima & Lebrun, Bernard, 1999. "First price auctions with resale," Economics Letters, Elsevier, vol. 64(2), pages 181-185, August.
- Marco Pagnozzi, 2004.
"Bidding to Lose? Auctions with Resale,"
CSEF Working Papers
116, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Nov 2006.
- Horstmann, I.J. & LaCasse, C., 1995.
"Secret Reserve Prices in a Bidding Model with a Re-Sale Option,"
9507e, University of Ottawa, Department of Economics.
- Horstmann, Ignatius J & LaCasse, Chantale, 1997. "Secret Reserve Prices in a Bidding Model with a Resale Option," American Economic Review, American Economic Association, vol. 87(4), pages 663-84, September.
- Philip A. Haile, 2001.
"Auctions with Resale Markets: An Application to U.S. Forest Service Timber Sales,"
American Economic Review,
American Economic Association, vol. 91(3), pages 399-427, June.
When requesting a correction, please mention this item's handle: RePEc:kse:dpaper:17. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Iryna Sobetska)
If references are entirely missing, you can add them using this form.