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| Author: | Deltas, G. Kosmopoulou, G. |
| Title: | "Catalogue" vs "order-of-sale" effects in sequential auctions: theory and evidence from a rare book sale |
| Journal: | Economic Journal
2004 : JAN, VOL. 114:492, p. 28-54 |
| Index terms: | Auctions Bidding Book trade |
| Language: | eng |
| Abstract: | Bidding is examines in a rare book sequential auction that has features of a natural experiment: lots were arranged in alphabetical order, the reserve set non-strategically and half the bids placed by mail-in bidders. The authors distinguish between the effects induced by the print order of the catalogue from those by the sequential nature of the sale. The existence of distinct "catalogue" effects on prices, number of bids and price variability are documented and their causes determined. |
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