Efficiency versus Economy of Time in Multi-Unit Descending Auction: The Role of "Mari"at Flower Markets in Japan

Minoru Kitahara () and Ryo Ogawa

ISER Discussion Paper from Institute of Social and Economic Research, Osaka University

Abstract: The auctioning rule in Japanese flower markets is a slightly modified version of that of the original Dutch flower auction. At Japanese flower markets, there is an additional stage, called "mari", where buyers who lost in the previous auction can apply for purchasing the remainder of flowers at the same price as in the previous auction. We investigate the role of "mari" in multi-unit descending auction, and show that "mari" extensively speeds up the market procedure at the cost of sufficiently small loss of efficiency, compared to the original Dutch sequential auction.

Date: 2006-10, Revised 2010-02
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://www.iser.osaka-u.ac.jp/library/dp/2010/DP0774.pdf

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:dpr:wpaper:0774

Access Statistics for this paper

More papers in ISER Discussion Paper from Institute of Social and Economic Research, Osaka University Contact information at EDIRC.
Bibliographic data for series maintained by Librarian ().