A SIMULATED STUDY OF AN AUCTION MARKET

Vista sencilla de ítem
dc.creatorWhan, R.B.
dc.creatorRichardson, Robert A.
dc.date2017-04-01T15:26:16Z
dc.date.accessioned2026-07-09T03:41:57Z
dc.descriptionA simulated model of an auction market is developed showing the relationship between the variation in valuations, the price variation and the number of independent bidders in the market. Average prices paid in a market with two or three bidders are less than average valuations. Average prices are progressively greater than average valuations as the number of bidders increases beyond four. Some applications of this model in the Australian wool market are discussed.
dc.identifierdoi:10.22004/ag.econ.23005
dc.identifierhttps://ageconsearch.umn.edu/record/23005/files/13020091.pdf
dc.identifierhttp://ageconsearch.umn.edu/record/23005
dc.identifier.urihttp://hdl.handle.net/123456789/538434
dc.languageeng
dc.publisher
dc.sourcehttp://ageconsearch.umn.edu/record/23005
dc.titleA SIMULATED STUDY OF AN AUCTION MARKET
dc.typeText

Archivos

Colecciones

University of Minnesota