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A Comparison of Prices Brought by English Auctions and Private Negotiations
Author(s) -
Lusht Kenneth M.
Publication year - 1996
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.00702
Subject(s) - common value auction , negotiation , economics , microeconomics , english auction , forward auction , auction theory , law , political science
A comparison of house prices brought by English auctions and private negotiations produced evidence that the pricing mechanism matters. In an active market for middle‐ to high‐priced houses, auctions extracted higher prices than private negotiations.