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Strategic Implications of Uncertainty Over One's Own Private Value in Auctions

Eric Bennett Rasmusen
Indiana University Bloomington - Department of Business Economics & Public Policy

January 26, 2003

Abstract:
Bidders have to decide whether and when to incur the cost of estimating their own values in auctions. This can explain sniping - flurries of bids late in auctions with deadlines - as the result of bidders trying to avoid stimulating other bidders into examining their bid ceiling more carefully.

Keywords: auctions, private values, sniping, bid ceilings, E-Bay

JEL Classifications: D44

Working Paper Series

Date posted: May 19, 2001 ; Last revised: November 23, 2004

Suggested Citation

Rasmusen, Eric Bennett, Strategic Implications of Uncertainty Over One's Own Private Value in Auctions (January 26, 2003). Available at SSRN: http://ssrn.com/abstract=267932 or doi:10.2139/ssrn.267932

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Contact Information

Eric Bennett Rasmusen (Contact Author)

Indiana University Bloomington - Department of Business Economics & Public Policy ( email )

Bloomington, IN 47405
United States
812-855-9219 (Phone)
812-855-3354 (Fax)

HOME PAGE: http://php.indiana.edu/~erasmuse