In sequential auctions objects are sold one by one in separate auctions. These sequential auctions might be organised as sequential first-price, second-price, or English auctions. We will derive equilibrium bidding strategies for these auctions. Theoretical models suggest that prices in...

Inventories and price changes are correlated. The inverse relation is most obvious in housing whereinventories build in low demand markets and shrink in high demand markets. This is a puzzle. Ifsellers and buyers had symmetric views of the world, one would think that sellers would lower...