Empirical Evidence Of The Influences On First- Price Bid Auction Premiums
Author
Start Page / End Page
Volume
Issue Number
Year
Publication
Abdul-Rasheed Amidu and Alirat Olayinka Agboola
157 / 170
12
2
2009
International Real Estate Review
Abstract
This study examines the determinants of auction premium using data from a first-price sealed bid auction of Federal Government Landed Properties in Nigeria. The results indicate that the number of bidders and location are important determinants of auction price premiums. These findings are consistent with the auction theory. The empirical estimates also suggest that property type as well as bidder characteristics may also influence auction premiums.