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Filtering by: Creator Guillotreau, Patrice Resource Type Presentation

The Declining Price Anomaly in Sequential Auctions with Asymmetric Bidders: The Case of Nephrops norvegicus in Lorient

Creator:

Guillotreau, Patrice, Loisel, Patrice, Ollivier, Pierrick, and Salladarré, Frédéric

Abstract:

The declining price anomaly for sequential sales of identical commodities challenges auction theory which predicts constant prices within a day. Among hypotheses explaining the phenomenon stands the dual value of goods including a risk premium in early transactions. We consider that asymmetric bidder groups and shortage periods may also affect...

Resource Type:

Presentation