Auction price anomalies: Evidence from wool auctions in Australia

Jones, C, Menezes, F and Vella, F (2004) Auction price anomalies: Evidence from wool auctions in Australia. Economic Record, 80 250: 271-288. doi:10.1111/j.1475-4932.2004.00188.x

Attached Files (Some files may be inaccessible until you login with your UQ eSpace credentials)
Name Description MIMEType Size Downloads

Author Jones, C
Menezes, F
Vella, F
Title Auction price anomalies: Evidence from wool auctions in Australia
Journal name Economic Record   Check publisher's open access policy
ISSN 0013-0249
Publication date 2004
Sub-type Article (original research)
DOI 10.1111/j.1475-4932.2004.00188.x
Volume 80
Issue 250
Start page 271
End page 288
Total pages 18
Place of publication Burwood, Victoria, Australia
Publisher Economic Soc of Australia Brown Prior Anderson
Language eng
Subject 1403 Econometrics
Abstract Using detailed Australian wool auction data we test for further evidence of pricing anomalies at sequential auctions. We find that an anomaly frequently exists and order is frequently endogenously determined. Moreover, prices increase through some sales and decrease through others. We examine whether it is possible to explain the variation in the anomaly across sales and conclude that there is no systematic relationship between the direction of the price anomaly and the characteristics of the wool or the auction. We do, however, find evidence that an anomaly, is more likely in longer sales.
Keyword Economics
Sequential Auctions
Q-Index Code C1

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
School of Economics Publications
Version Filter Type
Citation counts: TR Web of Science Citation Count  Cited 3 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 3 times in Scopus Article | Citations
Google Scholar Search Google Scholar
Created: Mon, 13 Aug 2007, 14:36:12 EST