Bid Takers or Market Makers? The Effect of Auctioneers on Auction Outcome
Nicola Lacetera (),
Bradley Larsen (),
Devin Pope and
Justin R. Sydnor
American Economic Journal: Microeconomics, 2016, vol. 8, issue 4, 195-229
Auction design has been studied extensively; however, within a given design, does the process of how an auction is conducted matter as well? We address this question by looking for heterogeneity in the performance of auctioneers in English auctions. We analyze over 850,000 wholesale used car auctions and find significant differences across auctioneers in outcomes for otherwise similar cars. The performance heterogeneities are stable across time and correlate with subjective evaluations by the auction house. We discuss the mechanisms driving differential performance and find evidence suggesting a role for tactics that generate bidder excitement or urgency.
JEL-codes: D44 D82 L62 (search for similar items in EconPapers)
Note: DOI: 10.1257/mic.20150020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14) Track citations by RSS feed
Downloads: (external link)
https://www.aeaweb.org/articles/attachments?retrie ... NZruUIgek-qeoIBxJXa7 (application/pdf)
https://www.aeaweb.org/articles/attachments?retrie ... cg-agRzZrYZ-oNx3hhDh (application/zip)
Access to full text is restricted to AEA members and institutional subscribers.
Working Paper: Bid Takers or Market Makers? The Effect of Auctioneers on Auction Outcomes (2013)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:aea:aejmic:v:8:y:2016:i:4:p:195-229
Ordering information: This journal article can be ordered from
Access Statistics for this article
American Economic Journal: Microeconomics is currently edited by Johannes Hörner
More articles in American Economic Journal: Microeconomics from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().