at a fixed price before an auction. In the "Buy-It-Now" format, the seller has the bargaining power and offers a price …

In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to … asking price and that this offer may be accepted if the seller receives no better offers. Despite their prevalence in a … environment with a few simple, realistic ingredients and demonstrate that using an asking price is optimal: it is the pricing …

. In our environment, sellers achieve this by posting an auction with a reserve price equal to their own valuation, along …

not. We find that the market equilibrium price in the treatment group is economically and statistically lower than in the …

provenance of the artwork, omitted variables in most previous studies, seem to be more important determinants of the sale price …) there is strong evidence in our data for the declining price anomaly, or "afternoon effect". -- Art auctions ; masterpiece … effect ; declining price anomaly ; Latin American art …

price expectations. In an incentivised valuation task, participants are endowed with a mug and provide their willingness to … accept (WTA) to sell it. We manipulate the sale price in a separate, exogenous forced sale scenario, which is predicted to … produce a 'comparison effect', moving WTA in the opposite direction to the forced sale price. Consistent with the theory, we …