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- Publisher
- American Economic Association
- Copyright
- Copyright © 2016 by the American Economic Association
- Subject
- Articles
- ISSN
- 1945-7685
- eISSN
- 1945-7685
- DOI
- 10.1257/mic.20150020
- Publisher site
- See Article on Publisher Site
Abstract
Abstract Auction design has been studied extensively; however, within a given design, does the process of how an auction is conducted matter as well? We address this question by looking for heterogeneity in the performance of auctioneers in English auctions. We analyze over 850,000 wholesale used car auctions and find significant differences across auctioneers in outcomes for otherwise similar cars. The performance heterogeneities are stable across time and correlate with subjective evaluations by the auction house. We discuss the mechanisms driving differential performance and find evidence suggesting a role for tactics that generate bidder excitement or urgency. (JEL D44, D82, L62 )
Journal
American Economic Journal: Microeconomics – American Economic Association
Published: Nov 1, 2016