The existence of ex-ante strong incumbents may constitute a barrier to entry in auctions for goods such as licenses.
(The chronology of his career in the catalogue includes something I have never seen before: multiple entries for auction records, including the $49m paid by Malaysian partyboy Jho Low for one canvas from 1982).
However, the player had reservations about moving to Selhurst Park and Chelsea's late entry into the auction turned his head.
Beyond emphasizing its rarity – it is one of 14 W196s built by Mercedes, but the only one in private ownership — Bonhams used the catalog entry for the auction, prepared with Mercedes, to a claim a place in history for the car.
No bidders showed up, and there were no locksmiths willing to force entry for the auction; officials gathered outside her gated home were kept out despite repeatedly ringing the bell and banging on the metal gate.
However, the player always had reservations about moving to Selhurst Park and, while Chelsea cannot offer European football next season, their late and surprise entry into the auction effectively turned his head.
Even Yahoo! (YHOO) has announced its entry into the auction arena.
After seven months of deliberating, Sherry-Lehmann, the East Side wine merchant, has decided to put off re-entry into the auction world for "a year or two".
Entering the auction is optimal, if the expected profit Π i (p ) exceeds the entry cost K i.
Amazon.com's amzn entry into the online auction business set off a rally among net stocks, lifting stocks as diverse as Amazon, America Online aol, Excite xcit, @Home athm and Doubleclick dclk.
