Pricing with Dutch Clock 

作成者 松田, 友義
作成者の別表記 Matsuda, Tomoyoshi
日本十進分類法 (NDC) 330
内容 The flouriculture is the only growth subsector of Japanese agriculture, Yet which subsector characterizes of assembly of the small businesses both in growing and distribution. Recently the tendency towards large scalltransaction becomes remarkable, therefore, the administrators concerned wholesale markets, carry foward the plan to reorganize wholesale markets with mergers, to make wholesale markets larger, and trading procedure efficient. In 1990, Ota Floriculture Auction Co. Ltd. wasestablished, which was formed from the merger of three wholesale markets, and started operation with electronic facilities in Tokyo Ohta Central Wholesale Market. They introduced descendeing bid (Dutch Clock) auction in pricing procedure. The purpose of this paper is to analyze the price discovery process comparing with this descending bid auction and conventional ascending bid auction. The simple behavioral model with some suppositions relevance to buyers performance is proposed to make it evident which price is tend to be discovered higher. As a conclusion, at descending bid auction prices tends to be discovered higher comparing with at ascending bid auction. Moreover it is pointed out that there is a potentiality to manipulate prices by auctioneers. At last even with automatic auction machines, as to discover accurate price which is reflecting market conditions, the ability of each auctioneer is still the most crucial issue.
公開者 千葉大学留学生センター
コンテンツの種類 紀要論文 Departmental Bulletin Paper
DCMI資源タイプ text
ファイル形式 application/pdf
ISSN 13438654
NCID AN10581144
掲載誌情報 千葉大学留学生センター紀要 Vol.1 page.117-132 (19950303)
情報源 Bulletin of International Student Center, Chiba University
言語 英語
著者版フラグ publisher

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