The failure of many paintings to sell in art auctions indicates the presence of reserve prices set by sellers. This … paper examines the relationship between sale rates and price surprises over time in art auctions. Using data on contemporary … estimate, as published in the auction catalog …

This paper contains a review of the burgeoning research that has been designed to shed light on how the art auction … are fairly long periods in which art prices may diverge across geographic areas and even auction houses. Third, we review … collusion with Christie's, the other great public auction house, was actually engineered. Contrary to the way the proceeds from …

There is a great deal of late bidding on internet second price auctions. We show that this need not result from either … private value auctions. The reason is that very late bids have a positive probability of not being successfully submitted, and … this opens a way for bidders to implicitly collude, and avoid bidding wars, in auctions such as those run by eBay, which …

timber auctions, the Forest Service publicly announces its estimates of the tract characteristics before the auction, and …This paper studies the bidding behavior of firms in U.S. Forest Service timber auctions in 1976--1990. When conducting … incorporates both differential information and the fact that bids placed in timber auctions are multidimensional. The theory …

The empirical analysis of auction data has become a thriving field of research over the past thirty years. Relying on … research in the field. The chapter is organized by types of goods for sale and covers auctions of timber, construction and … services procurement, oil and gas leases, online auctions, internet advertising, electricity, financial securities, spectrum …

I show that frequent batch auctions for stocks have the potential to reduce the severity of stock price crashes when … second apart batch auctions results in nearly the same trades and prices. Increasing the time interval between auctions to … the literature, frequent batch auctions have not caught on. There is a need for carefully designed market experiments to …

Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their … show that a seemingly minor detail in the design of these auctions--whether they are conducted on a "per appearance" or a … "per install" basis--plays a major role in the mix and characteristics of auction winners, and, consequently, in their …

We analyze a new auction format in which bidders pay a fee each time they increase the auction price. Bidding fees are … the primary source of revenue for the seller, but produce the same expected revenue as standard auctions. Our model … predicts a particular distribution of ending prices, which we test against observed auction data. Our model fits the data well …

We describe factors that make bidding in large spectrum auctions complex -- including exposure and budget problems, the … role of timing within an ascending auction, and the possibilities for price forecasting -- and how economic and game … auction, in which a new entrant, SpectrumCo, faced all these problems yet managed to purchase nationwide coverage at a …

.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more …We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U … value auction model with endogenous participation can account for these qualitative effects of auction format. We estimate …