The effect of competition in sealed bid auctions : certainty and uncertainty.

Bibliographic Details
Main Author:	Meyer, Donald J.
Other Authors:	Battalio, R. C. (degree committee member.), Gilbert, Roy F. (degree committee member.), Moroney, John R. (degree committee member.), Richards, R. Malcolm (degree committee member.)
Format:	Thesis Book
Language:	English
Published:	1983.
Subjects:	Auctions. Marketing research. Economics Academic theses
Online Access:	Link to ProQuest Copy Link to OAKTrust copy

Description
Abstract:	This dissertation is a theoretical, empirical, and experimental examination of the effect of competition in sealed bid auctions. Auctions in which objects have certain value and auctions in which objects have uncertain value are considered. The primary focus is on the relation between the number of bidders and an agent's optimal bid and on the relation between the number of bidders and the high or winning bid. First, a theoretical model is developed relating the effect of competition on the winning bid of an auction. The high bid of an auction is treated as the maximum draw from a distribution of bids for an object being auctioned. Second, the sealed bid auction market for rough rice in Texas is empirically analyzed. Finally, an experiment is conducted which is designed to investigate the effect of competition in auctions for objects of certain value.
Item Description:	"Major subject: Economics." Typescript (photocopy). Vita.
Physical Description:	viii, 137 leaves : illustrations ; 29 cm
Bibliography:	Includes bibliographical references (leaves 108-109).