Showing 1 - 10 of 966
information on the highest bid after each round for every band along with information on the bidder. We evaluate the price … formation efficiency in this setup to see how fast prices become informative about the final auction value. We find that prices … from their competitors' bidding behavior and validates the choice of the agency to implement the auction in the present …
Persistent link: https://www.econbiz.de/10012605864
price auction over non-conflicting groups and examine how non-rivalry impacts both efficiency and collusion. Conditions are … studied for non-rivalrous goods. I examine an auction framework where the good sold can be used simultaneously by multiple … bidders if their use does not conflict with others; this simultaneous use directly affects the efficiency of the auction. A …
Persistent link: https://www.econbiz.de/10015075932
viewed auctioning as an effective method for the transaction of land, in terms of price determination and transparency … interests that played a deci- sive 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 …
Persistent link: https://www.econbiz.de/10013262919
-revealing mechanism used in this research is the experimental auction, specifically the random nth-price auction. One hundred and twenty …
Persistent link: https://www.econbiz.de/10013440400
better off under the dynamic mechanism relative to a Vickrey-like auction because the intermediaries are more able to exploit …-like auction. Finally, I show that in large markets the dynamic mechanism and Vickrey-like auction have the same expected total …
Persistent link: https://www.econbiz.de/10014418049
In Korea, local governments and local agencies had to apply a version of the first price auction augmented by an ex …-post screening process when they procure construction contracts. However, this first price auction had been criticized because it was … auction method was recently replaced by a version of the average price auction with a similar screening process. This paper …
Persistent link: https://www.econbiz.de/10012643490
We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our …
Persistent link: https://www.econbiz.de/10012415617
In this note I show that the equilibrium in cutoff strategies observed in auctions with a buy-it-now price may also … buy-it-now price where buyers need to know only the total number of players in the market, in the latter environment … buyers must also observe the number of active bidders in the auction for the equilibrium to exist in cutoff strategies. …
Persistent link: https://www.econbiz.de/10012431931
generalized second price auctions. However, such an auction or mechanism could be considered unfair if similar consumers are …
Persistent link: https://www.econbiz.de/10012503803
We analyze a divisible good uniform‐price auction that features two groups, each with a finite number of identical … asymmetries in explaining deadweight losses. Furthermore, price impact and the deadweight loss need not move together, and market …
Persistent link: https://www.econbiz.de/10012806389