In an important study reviewing the literature on econometric studies of the relationship between advertising and sales Clarke (Clarke, Darral G. 1976. Econometric measurement of the duration of advertising effects on sales. J. Marketing Res. 13 (November) 345--357.) concluded that the implied...

This paper presents an empirical test of the major hypothesis of the currently-accepted bidding models in two regions of differing tract value uncertainty. The most significant result is an empirical verification that the more bidders that bid on a particular parcel in the face of great...