Working Papers, Department of Economics, Lund University
Decomposing the Afternoon Effect: An Empirical Investigation of Sequential Train Ticket Auctions
() and Tommy Andersson
Abstract: The afternoon effect, i.e., that prices in a sequence of
auctions with identical items are decreasing with the order in which the
auctions are terminated, is a frequently observed phenomenon in empirical
auction studies. Using an unsurpassed amount of data from sequential online
train ticket auctions, we investigate two hitherto unexplored dimensions
inherent in sequential auctions, namely, the timing of auction ends and the
presentation order of the auctions in a sequence. We find that both these
dimensions are important for price formation in sequential auctions, but
even when controlling for them, a sizable afternoon effect remains.
Keywords: sequential auctions; afternoon effect; presentation order; timing; (follow links to similar papers)
JEL-Codes: D02; D44; (follow links to similar papers)
12 pages, September 30, 2015
Before downloading any of the electronic versions below
you should read our statement on
for viewing Postscript files and the
Acrobat Reader for viewing and printing pdf files.
Full text versions of the paper:
Questions (including download problems) about the papers in this series should be directed to David Edgerton ()
Report other problems with accessing this service to Sune Karlsson ()
or Helena Lundin ().
Design by Joachim Ekebom