Is the ‘Linkage Principle’ Valid? Evidence from the Field

Sungjin Cho, Harry Paarsch and John Rust ()

Journal of Industrial Economics, 2014, vol. 62, issue 2, 346-375

Abstract: type="main">

We present field evidence concerning experienced bidders that supports the linkage principle—specifically, the prediction that in affiliated-values auction environments the expected revenues generated at open-outcry, ascending-bid auctions are higher than those under auction formats that reveal less information to participants. Using field data from a large seller of automobiles who experimented with different selling formats, we have found that average revenues were significantly higher under an English auction than under a dynamic Internet auction format that revealed less information to bidders.

Date: 2014
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Working Paper: Is the ’Linkage Principle’ Valid?: Evidence from the Field (2010)
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