Are Online Auction Markets Efficient? An Empirical Study of Market Liquidity and Abnormal Returns.

• Main Authors: KAUFFMAN, Robert J., Spaulding, Trent J, Wood, Charles A.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2009
• Subjects: Abnormal returns; Coins; Electronic markets; Financial economics; Market efficiency; Liquidity; Stamps; Thin markets; Unit roots; Variance ratio; Computer Sciences; E-Commerce
• Online Access: https://ink.library.smu.edu.sg/sis_research/2749; https://ink.library.smu.edu.sg/context/sis_research/article/3749/viewcontent/Online_Auction_Efficient_2009_av.pdf
• Institution: Singapore Management University

Technological advances have facilitated investment in collectibles through online auction markets, where information regarding product characteristics, current and historical prices, and product availability is available to millions of market participants. However, market inefficiencies may still ex...