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dc.contributor.authorBurguet, Roberto-
dc.date.accessioned2012-10-19T08:54:18Z-
dc.date.available2012-10-19T08:54:18Z-
dc.date.issued2005-
dc.identifierdoi: 10.1007/s10058-005-0121-2-
dc.identifierissn: 1434-4742-
dc.identifiere-issn: 1434-4750-
dc.identifier.citationReview of Economic Design 9(2): 73-90 (2005)-
dc.identifier.urihttp://hdl.handle.net/10261/58453-
dc.description.abstractThis paper considers the problem of designing selling procedures for substitutes (like condominium units). Oral ascending auctions for the right to choose are efficient. This is a common type of auction used for the sale of real estate. Efficiency is not optimal from the seller's viewpoint. An optimal procedure distorts the right-to-choose auction to favor in late rounds bidders whose preferred object has already been sold. This optimal auction is complex. A revenue improving departure from efficiency can be achieved by simply auctioning all the rights to choose before any of them is exerted. © Springer-Verlag 2005.-
dc.description.sponsorshipFinancial aid from the European Commission through the TMR Program (contract FMRX-CT98-0203) and the SpanishMCyT(Grants SEC 2002-02506 and SEC 2003-08080) is gratefully acknowledged.-
dc.language.isoeng-
dc.publisherSpringer-
dc.rightsopenAccess-
dc.titleThe condominium problem; auctions for substitutes-
dc.typeartículo-
dc.identifier.doihttp://dx.doi.org/10.1007/s10058-005-0121-2-
dc.date.updated2012-10-19T08:54:18Z-
dc.description.versionPeer Reviewed-
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