Empirical Evidence Of The Influences On First-Price Bid Auction Premiums

Abdul - Rasheed Amidu () and Alirat Olayinka Agboola ()
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Abdul - Rasheed Amidu: Birmingham City University
Alirat Olayinka Agboola: Obafemi Awolowo University

International Real Estate Review, 2009, vol. 12, issue 2, 157-170

Abstract: This study examines the determinants of auction premium using data from a first-price sealed bid auction of Federal Government Landed Properties in Nigeria. The results indicate that the number of bidders and location are important determinants of auction price premiums. These findings are consistent with the auction theory. The empirical estimates also suggest that property type as well as bidder characteristics may also influence auction premiums.

Keywords: Real estate markets; First-price bid auction; Auction price premium; Nigeria (search for similar items in EconPapers)
JEL-codes: L85 (search for similar items in EconPapers)
Date: 2009
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