Results 151 to 160 of about 802 (180)
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The Declining Price Anomaly

Journal of Economic Theory, 1993
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Daniel Vincent
exaly   +3 more sources

Wine auctions: More explanations for the declining price anomaly

Journal of Wine Research, 2006
Extant research has observed a declining price anomaly in a study of wine auctions, also called the afternoon effect: in sequential English auctions of wine, the price reduces. Previously suggested explanations include absentee bidder effect, option effect with non-decreasing absolute risk aversion, decreasing quality effect, the varying size and ...
Arvind Ashta
exaly   +2 more sources

Revisiting the declining price anomaly in wine auctions

International Journal of Economics and Business Research, 2016
Rajneesh Sharma
exaly   +4 more sources

A Resale Explanation for the Declining Price Anomaly in Sequential Auctions

2010
This paper studies price trends in a sequential first-price common-value auction with resale. It differs from the previous research in that it considers sequential auctions with multi-unit demand. In the two-stage case, we propose a condition that guarantees the existence of a symmetric monotonic equilibrium which exhibits a declining trend.
Tu, Zhiyong, Tu, Zhiyong
openaire   +3 more sources

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