Brannman, Lance; Klein, J Douglass; Weiss, Leonard W - In: The Review of Economics and Statistics 69 (1987) 1, pp. 24-32
Bidding theory predicts low er selling winning bids (higher buying winning bids) as numbers of bidders incre ase. Alternative versions predict that winning bids fall (rise) with the second order statistic, the maximum order statistic, or 1/N. The authors test these pre dictions using data on...