English, Article, Journal or magazine article edition: Auctioning with Aspirations: Keep Them Low (Enough) Shunda, Nicholas

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Bookmark: http://trove.nla.gov.au/version/105045
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Auctioning with Aspirations: Keep Them Low (Enough)
Author
  • Shunda, Nicholas
Physical Description
  • preprint
Notes
  • In an auction with a buy price, a seller offers bidders the opportunity to forgo competing in an auction by transacting immediately at a pre-specified fixed price. If a seller has aspirations in the form of a reference price that depends upon the auction's reserve price and buy price, she does best to keep her aspirations sufficiently low by designing a no-reserve auction with a buy price low enough that some bidder types would exercise it with positive probability in equilibrium. The seller is indifferent between the auction component of her mechanism being a first- or second-price auction.
  • Auction; Aspiration; Buy price; Internet; Reference-dependence
  • RePEc:pra:mprapa:16242
Language
  • English
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