Vor dem Hintergrund der grunsätzlichen Bedeutung einer sicheren Versorgung mit leitungsgebundenen Energien und den großen Versorgungsstörungen der letzten Jahre hat der Gesetzgeber in §51 ENWG das Bundesministerium beauftragt, eine Monitoring der Versorgungssicherheit sicherzustellen.Als...

This paper investigates the optimal bidding strategy for the initial bidder in takeover contests. In the theoretical model, the initial bidder has the choice between making a low or a high preemtive initial bid.(...)

Auktionen stellen heute ein zunehmend wichtiges Instrument dar, um Güter effizient und mit einem hohen Erlös zu verkaufen. Für die an einer Auktion teilnehmenden Bieter besteht jedoch der Anreiz, den Wettbewerb durch Absprache der Gebote außer Kraft zusetzen, um den für die Güter zu...

Auction fever is a multifaceted phenomenon thatis frequently observed in both traditional and Internetauctions. In order to gain a better understanding of itscauses, we develop a conceptual framework to analyzeemotions in auctions, which is based on an exhaustiveliterature review. The framework...

Recent research strengthens the conjecture that human decision-making stems from a complexinteraction of rational judgment and emotional processes. A prominent example of the impact ofemotions in economic decision-making is the effect of regret-related information feedback on biddingbehaviour in...

Auctions are nowadays a popular and frequently employed market mechanism in electronicmarkets. In economic literature, the success of electronic auctions has been largelyattributed to the reduction of transaction costs, the large number of potential buyers,and the independence of time and space....

Though auctions show a prevailing dominance in electronic markets, our understanding of howauctions work on human behaviour is still rather limited. In this paper we analyse the impact ofemotional processes on the decision making of human agents in electronic auctions. The analysis isbased on a...

Two auction mechanisms are studied in which players compete with one another for an exogenously determined prize by independently submitting integer bids in some discrete and commonly known strategy space specified by the auctioneer. In the unique lowest (highest) bid auction game, the winner of...

The unmediated call auction is a useful trading mechanism to aggregate dispersedinformation. Its ability to incorporate information of a single informed insider,however, is less well understood. We analyse this question by presenting a simplecall auction game where both auction prices and limit...

As firms implement tournament bonus reward schemes, mainly the idea is to introduce competition amongst their agents in the order to promote their performance.Tournaments in which agents compete for a bonus by investing effort, are frequentlyapplied, e.g., in development races, political...