haku: @author Ours, J. C. van / yhteensä: 12
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| Tekijä: | Ginsburg, V. Ours, J. C. van |
| Otsikko: | On organizing a sequential auction:results from a natural experiment by Christie's |
| Lehti: | Oxford Economic Papers
2007 : JAN, VOL 59:1, p. 1-15 |
| Asiasana: | china |
| Vapaa asiasana: | accending price auction Sequences |
| Kieli: | eng |
| Tiivistelmä: | This article discusses accending price auctions using acient chinese porcelain recovered from shipwreks. The authors exploit three natural experiments to examine whether some sequences generate more revenue than others. The results point out that a sequence of lots each containing the same number of items generates more revenue that lots with varying numbers. The authors also find that over a sequence of lots hammer prices decline and converge to some limit value, which is larger than the pre-sale estimate in the first two sales, and is equal to the pre-sale estimate in the third one. |
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