Auctions have been studied extensively as an economic marketplace. The economist's focus is on modeling final sales prices, but the processes that give rise to those outcomes are rarely studied in great detail. This research is intended to provide that complementary perspective. We show how the...

The marketing literature provides a solid understanding of auctions regarding final sales prices and many aspects of the processes that unfold to result in those outcomes. This research complements those perspectives by first presenting a new bidder behavior model that shows the role of emergent...

One of the biggest challenges in markets where products have ambiguous values (like fine art, specialty coffee, and wine) is to determine the structure of the market. As products in these markets are unique and values are private, it is difficult to determine its market structure using...