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2014 | 14 | 2 | 105-127
Article title

From English to First-Price Sealed Bid: An Empirical Assessment of the Change in Auction Type on Experienced Bidders

Title variants
Languages of publication
EN
Abstracts
EN
This paper estimate the differential impact of first-price sealed-bid (first-price) auctions relative to English auctions on auction revenue. While there is a theoretical literature on the potential outcomes of first-price relative to English auction, there is a paucity of articles that empirically estimate this relationship. The answer to this question is important not only to economists but also those designing auction for practical application. Using a unique dataset from tax lien auctions in Illinois, I empirically test the effect of a switch in auction type from English to first-price. I find auction revenue is greatly increased, by as much as 22 percent, under the first-price auction. The results are supported by a within county difference-in-difference model specification and are robust when restricting the sample across various specifications
Publisher
Year
Volume
14
Issue
2
Pages
105-127
Physical description
Dates
published
2014-06-01
online
2014-07-10
Contributors
  • Housing Policy Economist, NAHB, Washington, DC 20005, 1-202-266-8398, Fax: 1-202-266-8575, jmiller@nahb.org.
References
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Document Type
Publication order reference
Identifiers
YADDA identifier
bwmeta1.element.doi-10_2478_revecp-2014-0006
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