To see just how far people were willing to go to win, we studied people's behaviour in one of the most competitive bidding environments possible: a Dutch auction.
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Their big contribution was that auctions aren't just auctions. How an auction is designed matters enormously for what it does.
Robert Wilson and Paul Milgrom, winners of The 2020 Nobel Prize in economics.
For their work on auctions and 'the winner's curse', Stanford neigbhours Paul Milgrom and Robert Wilson have won the 2020 Nobel Prize for economics.
Do online sellers’ reputations matter? According to a March 2019 study, not particularly.
In the immaterial world of online sales, how important are sellers' reputation? An analysis of 1,000 eBay auctions provides an unexpected answer: not very.
‘Girl With a Balloon’ was renamed ‘Love Is in the Bin,’ after it self-destructed at a Sotheby’s auction on Oct. 5.
When artists destroy their works, it's usually to express their disdain for critics, dealers and curators. But does this get lost in the attention, hype and money that follows?
A cleverly-designed auction can make sure strata-titled apartment blocks are only sold when all of the owners are happy.
It's not fair to evict people against their will. On the other hand, one holdout shouldn't be able to derail the sale of an entire strata-titled apartment block. Now an international team has come up with an ingenious solution.
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Sales of antiquities legally excavated are just as ethically problematic as those likely looted.
Auctioneers have put a record price tag on the ultimate symbol of 60s counterculture and vintage nostalgia.