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| Author: | Janssen, M.C.W. |
| Title: | Auctions as coordination devices |
| Journal: | European Economic Review
2006 : APR, VOL. 50:3, p. 517-532 |
| Index terms: | auctions bidding coordination microeconomics price determination |
| Language: | eng |
| Abstract: | This article examines the relation between auctions and market price determination. The author argues that auctions have an increasing effect on market prices. It is shown that a cooperative pricing strategy in the market game results in high prices. |
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