The role of undisclosed reserves in English open outcry auctionsStevenson, S. and Young, J., (2013) The role of undisclosed reserves in English open outcry auctions. Working Papers in Real Estate & Planning. 04/13. Working Paper. University of Reading, Reading. pp31.
It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. Abstract/SummaryThis study considers the role that reserve prices may play in residential property auctions. In comparison to much of the previous empirical work, this study has access to undisclosed reserve prices from English auctions. Consistent with theoretical arguments in the auction literature, the results obtained illustrate that whilst higher reserve prices increase the revenue obtained for the seller, they also reduce the probability of sale. The findings also highlight the importance of auction participation, with the number of individual bidders and the number of bids significant in most specifications.
Download Statistics DownloadsDownloads per month over past year Deposit Details University Staff: Request a correction | Centaur Editors: Update this record |