References (12)


Citations (11)


Footnotes (6)



Equilbrium Price Paths in Sequential Auctions with Stochastic Supply

Thomas D. Jeitschko

Michigan State University - Department of Economics

September 1998

In many settings where several objects are auctioned sequentially, the total supply is not known with certainity ex ante. In such settings, price formation over the sequence of sales depends critically on the information available to the bidders regarding the remaining supply. For instance, prices may decline due to a reduced "option value" in early auctions caused by uncertain supply. However, if in the course of the auction it becomes known that fewer than expected units will be auctioned, prices may increase due to diminished supply and the corresponding increase in competition in latter auctions.

Number of Pages in PDF File: 9

JEL Classification: D44

Open PDF in Browser Download This Paper

Date posted: March 3, 1999  

Suggested Citation

Jeitschko, Thomas D., Equilbrium Price Paths in Sequential Auctions with Stochastic Supply (September 1998). Available at SSRN: http://ssrn.com/abstract=149309 or http://dx.doi.org/10.2139/ssrn.149309

Contact Information

Thomas D. Jeitschko (Contact Author)
Michigan State University - Department of Economics ( email )
110 Marshall-Adams Hall
East Lansing, MI 48824
United States
517-355-8302 (Phone)
517-432-1068 (Fax)
HOME PAGE: http://www.msu.edu/~jeitschk/
Feedback to SSRN

Paper statistics
Abstract Views: 1,164
Downloads: 240
Download Rank: 95,097
References:  12
Citations:  11
Footnotes:  6

© 2016 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollobot1 in 0.203 seconds