Computing price trends in sequential auctions

Olivier Chanel and Stéphanie Vincent Lyk-Jensen ()

No 2004043, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: This paper compares various methods used for measuring price trends in sequential auctions and draws on index number theory. Data from wine auctions are used to show that different methods applied to the same data may lead to significantly différent conclusions. Moreover the same method can even lead to opposite results depending on the way pairs are selected within the set of similar objects sold sequentially. Finally, the number of identical objects being sold also influences the price trend.

Keywords: Sequential auctions; Price aggregation; Price indices (search for similar items in EconPapers)
JEL-codes: C15 C43 D44 (search for similar items in EconPapers)
Pages: 18
Date: 2004-12-01
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Citations: View citations in EconPapers (1)

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Journal Article: Computing price trends in sequential auctions (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvre:2004043

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