Provision of Collective Behavior in Market Settings: A Study of Closed-Auction Markets for Antiques and Secondhand Goods in Japan

@inproceedings{Furuse2015ProvisionOC,
  title={Provision of Collective Behavior in Market Settings: A Study of Closed-Auction Markets for Antiques and Secondhand Goods in Japan},
  author={Kimihiro Furuse},
  year={2015}
}
This study explores how market order emerges in the closed auction markets for antiques and secondhand goods in Japan. Most auction markets for antiques and secondhand goods are exclusive to dealers in Japan. The Antique Business Act (Kobutsu Eigyo Ho) states that participants in auction markets must have a secondhand goods dealer license. Participants must obtain the permission of market managers to enter the markets as well. Dealers often belong to several auction markets and associate with… CONTINUE READING