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Kitahara, Minoru
Ogawa, Ryo
Year of Publication: 
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 774
The auctioning rule in Japanese flower markets is a slightly modi-fied version of that of the original Dutch flower auction. At Japaneseflower markets, there is an additional stage, called 'mari', where buyers who lost in the previous auction can apply for purchasing the remainder of flowers at the same price as in the previous auction. We investigate the role of 'mari' in multi-unit descending auction, and show that 'mari' extensively speeds up the market procedure at the cost of sufficiently small loss of efficiency, compared to the original Dutch sequential auction.
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Working Paper

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