Matches in DBpedia 2014 for { <http://dbpedia.org/resource/Linkage_principle> ?p ?o. }
Showing items 1 to 23 of
23
with 100 items per page.
- Linkage_principle abstract "The linkage principle is a finding of auction theory. It states that auction houses have an incentive to pre-commit to revealing all available information about each lot, positive or negative. The linkage principle is seen in the art market with the age-old tradition of auctioneers hiring art experts to examine each lot and pre-commit to provide a truthful estimate of its value.The discovery of the linkage principle was most useful in determining optimal strategy for countries in the process of auctioning off drilling rights (as well as other natural resources, such as logging rights in Canada). An independent assessment of the land in question is now a standard feature of most auctions, even if the seller country may believe that the assessment is likely to lower the value of the land rather than confirm or raise a pre-existing valuation.Failure to reveal information leads to the winning bidder incurring the discovery costs himself and lowering his maximum bid due to the expenses incurred in acquiring information. If he is not able to get an independent assessment, then his bids will take into account the possibility of downside risk. Both scenarios can be shown to lower the expected revenue of the seller. The expected sale price is raised by lowering these discovery costs of the winning bidder, and instead providing information to all bidders for free.".
- Linkage_principle wikiPageID "1792442".
- Linkage_principle wikiPageRevisionID "580805598".
- Linkage_principle hasPhotoCollection Linkage_principle.
- Linkage_principle subject Category:Economic_theories.
- Linkage_principle type Abstraction100002137.
- Linkage_principle type Cognition100023271.
- Linkage_principle type EconomicTheories.
- Linkage_principle type EconomicTheory105994935.
- Linkage_principle type Explanation105793000.
- Linkage_principle type HigherCognitiveProcess105770664.
- Linkage_principle type Process105701363.
- Linkage_principle type PsychologicalFeature100023100.
- Linkage_principle type Theory105989479.
- Linkage_principle type Thinking105770926.
- Linkage_principle comment "The linkage principle is a finding of auction theory. It states that auction houses have an incentive to pre-commit to revealing all available information about each lot, positive or negative.".
- Linkage_principle label "Linkage principle".
- Linkage_principle sameAs m.05xcwg.
- Linkage_principle sameAs Q6554344.
- Linkage_principle sameAs Q6554344.
- Linkage_principle sameAs Linkage_principle.
- Linkage_principle wasDerivedFrom Linkage_principle?oldid=580805598.
- Linkage_principle isPrimaryTopicOf Linkage_principle.