Download now Free registration required
One view regarding auction duration suggests that longer auctions would result in more bidders and more bids, which in turn would result in higher prices. An opposing view is that shorter auctions might appeal to impatient bidders, or alternatively that shorter duration might lead to more competitive dynamics. To examine these competing notions, a pairwise comparison was conducted of simultaneous auctions identical in all but duration. In the local site, it's found that the auction duration does not significantly affect the number of participating bidders or the number of bids placed in an auction. However, the magnitude of jump bids is negatively and significantly correlated with duration. These jump bids are in turn shown to impact final prices.
- Format: PDF
- Size: 126.1 KB