Auctions with Options for Re-auction
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Altmetric Citations
Grant, Simon; Kajii, Atsushi; Menezes, Flavio; Ryan, Matthew
Description
A seller has one unit to sell using an English auction mechanism similar to internet auction markets, such as eBay. Bidders appear according to a random arrival process. The seller chooses a reserve price and duration for each auction. If the reserve is not met, the seller passes in the object and conducts another auction with a new, randomly chosen, set of bidders. We distinguish reserves that embody an institutional commitment not to sell below that price, from those that do not. In each...[Show more]
Collections | ANU Research Publications |
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Date published: | 2006 |
Type: | Journal article |
URI: | http://hdl.handle.net/1885/284065 |
Source: | International Journal of Economic Theory |
DOI: | 10.1111/j.1365-2966.2006.0022.x |
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File | Description | Size | Format | Image |
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Int J of Economic Theory - 2006 - Grant - Auctions with options to re‐auction.pdf | 235.25 kB | Adobe PDF | Request a copy |
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