Commodities failing in auctions: The story of unsold cod in Norway
This study addresses how commodities that go unsold at auction perform when they are subsequently sold directly or at auction. Given that the share of unsold commodities is up to 50% in some markets, this is an important yet neglected topic. With a unique dataset including approximately 40,000 froze...
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Online Access: | https://hdl.handle.net/11250/3065134 https://doi.org/10.1016/j.jcomm.2023.100311 |
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ftunivstavanger:oai:uis.brage.unit.no:11250/3065134 2023-06-11T04:10:09+02:00 Commodities failing in auctions: The story of unsold cod in Norway Sogn-Grundvåg, Geir Zhang, Dengjun 2023-01-18T09:41:39Z application/pdf https://hdl.handle.net/11250/3065134 https://doi.org/10.1016/j.jcomm.2023.100311 eng eng Elsevier Fiskeri- og havbruksnæringens forskningsfinansiering: 901720 Nofima AS: 13587 Sogn-Grundvåg, G., & Zhang, D. (2023). Commodities failing in auctions: The story of unsold cod in Norway. Journal of Commodity Markets, 100311. urn:issn:2405-8513 https://hdl.handle.net/11250/3065134 https://doi.org/10.1016/j.jcomm.2023.100311 cristin:2109104 Navngivelse 4.0 Internasjonal http://creativecommons.org/licenses/by/4.0/deed.no The authors 29 Journal of Commodity Markets VDP::Landbruks- og Fiskerifag: 900 VDP::Samfunnsvitenskap: 200 Peer reviewed Journal article 2023 ftunivstavanger https://doi.org/10.1016/j.jcomm.2023.100311 2023-05-29T16:02:48Z This study addresses how commodities that go unsold at auction perform when they are subsequently sold directly or at auction. Given that the share of unsold commodities is up to 50% in some markets, this is an important yet neglected topic. With a unique dataset including approximately 40,000 frozen Atlantic cod transactions, with detailed information about each lot, including if it was previously withdrawn from the auction, we apply hedonic price modeling to investigate how these lots are priced. The results indicate that when previously withdrawn lots are sold directly, they achieve lower prices than comparable lots. In the auction market, on the other hand, previously unsold lots achieve slightly higher prices than comparable lots. publishedVersion Article in Journal/Newspaper atlantic cod University of Stavanger: UiS Brage Norway Journal of Commodity Markets 29 100311 |
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University of Stavanger: UiS Brage |
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ftunivstavanger |
language |
English |
topic |
VDP::Landbruks- og Fiskerifag: 900 VDP::Samfunnsvitenskap: 200 |
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VDP::Landbruks- og Fiskerifag: 900 VDP::Samfunnsvitenskap: 200 Sogn-Grundvåg, Geir Zhang, Dengjun Commodities failing in auctions: The story of unsold cod in Norway |
topic_facet |
VDP::Landbruks- og Fiskerifag: 900 VDP::Samfunnsvitenskap: 200 |
description |
This study addresses how commodities that go unsold at auction perform when they are subsequently sold directly or at auction. Given that the share of unsold commodities is up to 50% in some markets, this is an important yet neglected topic. With a unique dataset including approximately 40,000 frozen Atlantic cod transactions, with detailed information about each lot, including if it was previously withdrawn from the auction, we apply hedonic price modeling to investigate how these lots are priced. The results indicate that when previously withdrawn lots are sold directly, they achieve lower prices than comparable lots. In the auction market, on the other hand, previously unsold lots achieve slightly higher prices than comparable lots. publishedVersion |
format |
Article in Journal/Newspaper |
author |
Sogn-Grundvåg, Geir Zhang, Dengjun |
author_facet |
Sogn-Grundvåg, Geir Zhang, Dengjun |
author_sort |
Sogn-Grundvåg, Geir |
title |
Commodities failing in auctions: The story of unsold cod in Norway |
title_short |
Commodities failing in auctions: The story of unsold cod in Norway |
title_full |
Commodities failing in auctions: The story of unsold cod in Norway |
title_fullStr |
Commodities failing in auctions: The story of unsold cod in Norway |
title_full_unstemmed |
Commodities failing in auctions: The story of unsold cod in Norway |
title_sort |
commodities failing in auctions: the story of unsold cod in norway |
publisher |
Elsevier |
publishDate |
2023 |
url |
https://hdl.handle.net/11250/3065134 https://doi.org/10.1016/j.jcomm.2023.100311 |
geographic |
Norway |
geographic_facet |
Norway |
genre |
atlantic cod |
genre_facet |
atlantic cod |
op_source |
29 Journal of Commodity Markets |
op_relation |
Fiskeri- og havbruksnæringens forskningsfinansiering: 901720 Nofima AS: 13587 Sogn-Grundvåg, G., & Zhang, D. (2023). Commodities failing in auctions: The story of unsold cod in Norway. Journal of Commodity Markets, 100311. urn:issn:2405-8513 https://hdl.handle.net/11250/3065134 https://doi.org/10.1016/j.jcomm.2023.100311 cristin:2109104 |
op_rights |
Navngivelse 4.0 Internasjonal http://creativecommons.org/licenses/by/4.0/deed.no The authors |
op_doi |
https://doi.org/10.1016/j.jcomm.2023.100311 |
container_title |
Journal of Commodity Markets |
container_volume |
29 |
container_start_page |
100311 |
_version_ |
1768384419753623552 |