Arbeitspapier
Price Dynamics in sequential auctions. New evidence using art auction data
We analyze the price structure of sequential auctions of modern and contemporary art that took place in Italy during the period 1983-96. Contrary to previous empirical studies, we do not find any "afternoon" effect - i.e., a decline of auction prices relative to their estimates.If anything, we find the opposite, or "morning", effect. Our results are robust to different econometric specifications. Taking into consideration the possible dynamic nature of price determination, we propose an interpretation of the empirical results that encompasses previous contributions.
- Sprache
-
Englisch
- Erschienen in
-
Series: Quaderni - Working Paper DSE ; No. 352
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Picci, Picci
Scorcu, Antonello
- Ereignis
-
Veröffentlichung
- (wer)
-
Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE)
- (wo)
-
Bologna
- (wann)
-
1999
- DOI
-
doi:10.6092/unibo/amsacta/4957
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Picci, Picci
- Scorcu, Antonello
- Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE)
Entstanden
- 1999
Ähnliche Objekte (12)
Sequential Auctions, Price Trends, and Risk Preferences
Sequential vs. Single-Round Uniform-Price Auctions
Optimal Reserve Prices in Sequential Auctions with Imperfect Commitment
Declining Prices in the Sequential Dutch Flower Auction of Roses
Information disclosure by a seller in a sequential first-price auction
Does the choice of auction format affect prices in spectrum auctions?
Signal-Jamming in a Sequential Auction
Auctions-Bedingungen / Aufträge zur Auction
Auctions-Bedingungen / Aufträge zur Auction
New Evidence on Price Anomalies in Sequential Auctions : Used Cars in New Jersey
Sequential Auctions with Generalized Interdependent Values
Low price equilibrium in multi-unit auctions: The GSM spectrum auction in Germany
Sequential Auctions, Price Trends, and Risk Preferences
Sequential vs. Single-Round Uniform-Price Auctions
Optimal Reserve Prices in Sequential Auctions with Imperfect Commitment
Declining Prices in the Sequential Dutch Flower Auction of Roses
Information disclosure by a seller in a sequential first-price auction
Does the choice of auction format affect prices in spectrum auctions?
Signal-Jamming in a Sequential Auction
Auctions-Bedingungen / Aufträge zur Auction
Auctions-Bedingungen / Aufträge zur Auction
New Evidence on Price Anomalies in Sequential Auctions : Used Cars in New Jersey
Sequential Auctions with Generalized Interdependent Values
Low price equilibrium in multi-unit auctions: The GSM spectrum auction in Germany
Sequential Auctions, Price Trends, and Risk Preferences
Sequential vs. Single-Round Uniform-Price Auctions
Optimal Reserve Prices in Sequential Auctions with Imperfect Commitment
Declining Prices in the Sequential Dutch Flower Auction of Roses
Information disclosure by a seller in a sequential first-price auction
Does the choice of auction format affect prices in spectrum auctions?
Signal-Jamming in a Sequential Auction
Auctions-Bedingungen / Aufträge zur Auction
Auctions-Bedingungen / Aufträge zur Auction
New Evidence on Price Anomalies in Sequential Auctions : Used Cars in New Jersey
Sequential Auctions with Generalized Interdependent Values