Detail Declining Values and The Afternoon Effect : Evidence From Art Auctions   Oleh:  Graddy, Kathryn ; Beggs, Alan Jenis: Article from Bulletin/Magazine Dalam koleksi: The Rand Journal of Economics vol. 28 no. 3 (1997), page 544-565. Topik: VALUES; declining values; evidence; art auctions Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel We study the order of sale in art auctions. The final bid relative to the auctioneer's estimated price declines throughout the course of an auction. A theoretical model shows that in an auction ordered by declining valuation, even in the presence of risk - neutral strategic bidders, the price received relative to the estimate for later items in an auction should be less than the price relative to the estimate for earlier items. Furthermore, ordering heterogenous items by value maximizes revenue for the auctioneer. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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