Decomposing the Afternoon Effect: An Empirical Investigation of Sequential Train Ticket Auctions

Arbeitspapier

The afternoon effect, i.e., that prices in a sequence of auctions with identical items are decreasing with the order in which the auctions are terminated, is a frequently observed phenomenon in empirical auction studies. Using an unsurpassed amount of data from sequential online train ticket auctions, we investigate two hitherto unexplored dimensions inherent in sequential auctions, namely, the timing of auction ends and the presentation order of the auctions in a sequence. We find that both these dimensions are important for price formation in sequential auctions, but even when controlling for them, a sizable afternoon effect remains.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Working Paper ; No. 2015:28

Classification and Topics

• Classification: Wirtschaft ; Institutions: Design, Formation, Operations, and Impact ; Auctions
• Subject: sequential auctions ; afternoon effect ; presentation order ; timing

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Andersson, Ola ; Andersson, Tommy
• Event: Veröffentlichung
• (who): Lund University, School of Economics and Management, Department of Economics
• (where): Lund
• (when): 2015

Further information

• Handle: http://hdl.handle.net/10419/260166
• Last update: 10.03.2025, 11:41 AM CET