Abstract
A sequential auction of commercial properties produced evidence that bid timing matters. Prices declined as the auction proceeded, an outcome consistent with expectations when bidders are either risk averse or quantity constrained.
- Title
- Order and price in a sequential auction
- Creators
- Kenneth M. Lusht - Pennsylvania State University
- Publication Details
- The journal of real estate finance and economics, Vol.8(3), pp.259-266
- Publisher
- KLUWER ACADEMIC PUBL
- Number of pages
- 8
- Identifiers
- 99383436999006570
- Academic Unit
- Department of Economics & Finance
- Language
- English
- Resource Type
- Journal article