International Real Estate Review | Zendy

Abdul - Rasheed Amidu Amidu | Zendy; Alirat Olayinka Agboola | Zendy

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International Real Estate Review

Author(s) -

Abdul - Rasheed Amidu Amidu,

Alirat Olayinka Agboola

Publication year - 2009

Publication title -

journal of the asian real estate society

Language(s) - English

Resource type - Journals

ISSN - 1029-6131

DOI - 10.53383/100110

Subject(s) - real estate , generalized second price auction , auction theory , dutch auction , economics , english auction , vickrey auction , revenue equivalence , business , monetary economics , microeconomics , common value auction , econometrics , finance

This study examines the determinants of auction premium using data from a first-price sealed bid auction of Federal Government Landed Properties in Nigeria. The results indicate that the number of bidders and location are important determinants of auction price premiums. These findings are consistent with the auction theory. The empirical estimates also suggest that property type as well as bidder characteristics may also influence auction premiums.

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