Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/23397
Authors: 
Raviv, Yaron
Year of Publication: 
2004
Series/Report no.: 
Working paper series / Claremont McKenna College 04,10
Abstract: 
In this paper the sequence of winning bids in the public auction of used cars in New Jersey is examined for the presence of price anomalies. Unlike many studies of heterogeneous objects where the effect of the order of sale on the price may not be credibly identified, the effect of the order is identified here because the items are randomly selected for sale. In a further contrast to many other studies, these data indicate that the prices tend to increase as the auction proceeds. The data also indicate that once several items have been sold, there is no change in the bidding behavior or further increase in prices.
Subjects: 
Auction
Declining Price Anomaly
JEL: 
C81
D44
C93
Document Type: 
Working Paper

Files in This Item:
File
Size
415.06 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.