Auctions with different rates of patience: Evidence from the resale shoe market

Alison Watts

Managerial and Decision Economics, 2019, vol. 40, issue 8, 882-890

Abstract: Bids and asks are examined over time using auction data from a continuous auction of authentic deadstock sneakers. A theoretical analysis of a double auction over time shows that if buyers and sellers have different rates of patience, then a buyer (respectively, seller) who is patient will be more likely to set a lower initial bid (respectively, higher initial ask). This causes an increase in the unfulfilled bid–ask spread over time. These results are tested using data collected from the StockX website for two specific deadstock sneakers. Results show that the unfulfilled bid–ask spread is positively correlated with time.

Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1002/mde.3056

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:40:y:2019:i:8:p:882-890

Access Statistics for this article

Managerial and Decision Economics is currently edited by Antony Dnes

More articles in Managerial and Decision Economics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().