Vanderporten, Bruce - In: The Journal of Real Estate Finance and Economics 5 (1992) 3, pp. 255-67
When many similar properties are being auctioned, auctioneers often resort to the pooled design. The winning bidder of a given round is given a choice among all the unclaimed (pooled) properties. Bidding strategy depends on expectations of rival bidders' behavior as well as personal valuation....