| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6504 |
| DP6504 Prices and Market Shares in a Menu Cost Model | |
| Ariel Tomas Burstein; Christian HELLWIG | |
| 发表日期 | 2007-10-12 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper revisits recent empirical research on buyer credulity in arts auctions and auctions for assets in general. We show that elementary results in auction theory can fully account for some stylized facts on asset returns that have been held to suggest that sellers of assets can exploit buyers by providing biased estimates of asset values. We argue that, rather than showing that buyers are credulous, the existing evidence can serve as an indirect test of the rationality assumptions underlying auction theory. |
| 主题 | Industrial Organization |
| 关键词 | Auctions Buyer credulity Information disclosure Seller manipulation |
| URL | https://cepr.org/publications/dp6504 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535355 |
| 推荐引用方式 GB/T 7714 | Ariel Tomas Burstein,Christian HELLWIG. DP6504 Prices and Market Shares in a Menu Cost Model. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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