Quantifying the cost of excess market thickness in timber sale auctions
نویسندگان
چکیده
Article history: Received 25 August 2007 Received in revised form 1 December 2008 Accepted 20 January 2009 Available online 25 January 2009 JEL classification: D44 L74 C13
منابع مشابه
Information acquisition and/or bid preparation: A structural analysis of entry and bidding in timber sale auctions
Recently, several auctionmodels with entry have been proposed: in onemodel (Levin and Smith, 1994; Li and Zheng, 2009), bidders are assumed to draw their private values after they decide to enter. In another model (Samuelson, 1985; Li and Zheng, 2009), bidders are assumed to learn their values before their entry decisions aremade. The entry cost in the lattermodel can be interpreted as bid prep...
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