(Mal-)practices of Auctioneering on the English Property Market During the 19 th Century
Bibliographic Data
| ID | 16475846 |
|---|---|
| Authors | Stephan Fasold (Universität Bielefeld, Fakultät für Geschichtswissenschaft, Philosophie und Theologie , Universitätsstraße 25 , Bielefeld Germany, corresponding author) |
| Year | 2022 |
| Volume | 63 |
| Issue | 1 |
| Pages | 55-81 |
| Publication date | 2022-05-25 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook (JOURNAL) |
| Journal identifiers | ISSN: 0075-2800 • E-ISSN: 2196-6842 |
| Publisher | Walter de Gruyter GmbH (PUBLISHER • DE) |
| DOI | 10.1515/jbwg-2022-0003 |
| OpenAlex | W4280529305 |
| Language | EN |
| References cited | 3 |
In the 19 th century, auctions became a widespread form of transaction for real estate in England. Contemporaries viewed auctioning as an effective method for the transaction of land, in terms of price determination and transparency. Contrary to these theoretical assumptions, the article shows that in practice it was not economic efficiency but group interests that played a decisive role in the establishment of the auction mechanism. The article provides an analysis of the formal and informal rules of the auction trade for real estate and argues that 19 th century real estate auctions did not always lead to optimal results in terms of valuation and allocation because power structures played a greater role in them than auction theory assumes
Business · Common value auction · Database · Database transaction · Economics · English auction · Estate · Microeconomics · Political science · Property (philosophy · Real estate · Transparency (behavior · Valuation (finance · Art History and Market Analysis · Computer Science · Finance · Historical Economic and Social Studies · Housing Market and Economics · Law · Philosophy
| Highly cited | No |
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