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Auction Markets, Bid Preparation Costs and Entrance Fees

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  • Ronald N. Johnson

Abstract

A transaction costs framework is developed to explain the choice between lump-sum and per unit payment provisions in private timber-harvesting contracts. Predictions about which contract type minimizes the transaction costs of presale measurement and ...

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  • Ronald N. Johnson, 1979. "Auction Markets, Bid Preparation Costs and Entrance Fees," Land Economics, University of Wisconsin Press, vol. 55(3), pages 313-318.
    • Handle: RePEc:uwp:landec:v:55:y:1979:i:3:p:313-318
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    Cited by:

    1. Ye, Lixin, 2007. "Indicative bidding and a theory of two-stage auctions," Games and Economic Behavior, Elsevier, vol. 58(1), pages 181-207, January.
    2. Geoffrey Black, 2002. "A transaction cost model of contract choice: The case of petroleum exploration," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 8(3), pages 235-247, August.

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