Slow Dutch Auctions

@article{Carare2003SlowDA,
  title={Slow Dutch Auctions},
  author={Octavian Carare and Michael H. Rothkopf},
  journal={Management Science},
  year={2003},
  volume={51},
  pages={365-373}
}
Theorists have long believed that Dutch auctions are strategically equivalent to standard sealed bidding. However, in recent controlled experiments with actual Dutch and sealed-bid Internet auctions of collectibles, the Dutch auctions produced significantly more revenue. We believe that this happened, in part, because the Internet Dutch auctions are a slow process in which bidders incur incremental transaction costs if they delay bidding. This paper presents models of slow Dutch auctions that… CONTINUE READING

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