Penny auctions
(2016)
Journal Article
Hinnosaar, T. (2016). Penny auctions. International Journal of Industrial Organization, 48, 59-87. https://doi.org/10.1016/j.ijindorg.2016.06.005
This paper studies penny auctions, a novel auction format in which every bid increases the price by a small amount, but placing a bid is costly. Outcomes of real-life penny auctions are often surprising. Even when selling cash, the seller may obtain... Read More about Penny auctions.