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Repeat Bidder Behavior in Housing Auctions

André K. Anundsen et al.

Journal of Real Estate Finance and Economics2025https://doi.org/10.1007/s11146-025-10038-3article
AJG 3ABDC A
Weight
0.37

Abstract

Using data on more than one million bids from almost 200,000 housing transactions, we use a unique bidder identifier to follow bidders within and across auctions over the period 2007-2021. We retain information on bids for each repeat bidder during their participation in different housing auctions, in addition to unit-specific and auction-specific information. This data set allows us to estimate regression models with bidder-fixed effects to examine whether repeat bidders change their behavior as they participate in multiple auctions. We test the null hypothesis of no change in behavior along five parameters: unit size, ask price, nominal bid, bid relative to ask price, and bid relative to other bids. The evidence indicates that repeat bidders do not change the size or value of the units they seek to buy, but tend to change the way they bid.

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https://doi.org/https://doi.org/10.1007/s11146-025-10038-3

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@article{andré2025,
  title        = {{Repeat Bidder Behavior in Housing Auctions}},
  author       = {André K. Anundsen et al.},
  journal      = {Journal of Real Estate Finance and Economics},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1007/s11146-025-10038-3},
}

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Evidence weight

0.37

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.16 × 0.4 = 0.06
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.