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Properties auctioned in Los Angeles during the 1980s boom sold at an estimated discount of 0%\u20139%, while sales in Dallas following the oil bust obtained discounts of 9%\u201321%. This evidence is consistent with the theoretical prediction that the auction discount increases in downturns when a seller trades\u2010off a longer expected selling time in a search market against an immediate auction sale. The study finds no evidence of the declining price anomaly.</jats:p>",51 "DOI": "10.1111/1540-6229.00737",52 "type": "journal-article",53 "created": {54 "date-parts": [55 [56 2003,57 9,58 2259 ]60 ],61 "date-time": "2003-09-22T16:14:40Z",62 "timestamp": 106424728000063 },64 "page": "41-66",65 "source": "Crossref",66 "is-referenced-by-count": 72,67 "title": [68 "Assessing the Performance of Real Estate Auctions"69 ],70 "prefix": "10.1111",71 "volume": "26",72 "author": [73 {74 "given": "Christopher J.",75 "family": "Mayer",76 "sequence": "first",77 "affiliation": [],78 "role": [79 {80 "vocabulary": "crossref",81 "role": "author"82 }83 ]84 }85 ],86 "member": "311",87 "published-online": {88 "date-parts": [89 [90 2003,91 9,92 2293 ]94 ]95 },96 "reference": [97 {98 "key": "e_1_2_1_2_1",99 "doi-asserted-by": "publisher",100 "DOI": "10.1007/BF02341912"101 },102 {103 "key": "e_1_2_1_3_1",104 "doi-asserted-by": "publisher",105 "DOI": "10.1257/jep.3.3.23"106 },107 {108 "issue": "2",109 "key": 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