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Creating Competition Out of Thin Air: Market Thickening and Right-to-Choose Auctions

Eliaz, Kfir; Offerman, Theo; Schotter, Andrew - C.E.P.R. Discussion Papers - 2004

We study a procedure for selling multiple heterogenous goods, which is commonly used in practice but rarely studied in the literature. The novel feature of this procedure is that instead of selling the goods themselves, the seller offers buyers the right to choose among the available goods....

Persistent link: https://www.econbiz.de/10005067663

Mixed Bundling Auctions

Jehiel, Philippe; Meyer-Ter-Vehn, Moritz; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2006

. For any number of objects and bidders, both the pure bundling auction and separate, efficient auctions for the single … objects are revenue-inferior to an auction that involves mixed bundling. …

Persistent link: https://www.econbiz.de/10005667050

Auctions with Anticipated Emotions: Overbidding, Underbidding, and Optimal Reserve Prices

Roider, Andreas; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2007

valuations. We show that the experimental evidence can be explained by a simple extension of the standard auction model, where …

Persistent link: https://www.econbiz.de/10005498113

Reserve Prices in Auctions as Reference Points

Rosenkranz, Stephanie; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2004

We consider second-price and first-price auctions in the symmetric independent private values framework. We modify the standard model by the assumption that the bidders have reference-based utility, where the reserve price (minimum bid) plays the role of the reference point. In contrast to the...

Persistent link: https://www.econbiz.de/10005792017

Organizations, Diffused Pivotality and Immoral Outcomes

Falk, Armin; Szech, Nora - C.E.P.R. Discussion Papers - 2013

This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for money or to save mice. We compare a Baseline treatment where subjects are fully pivotal to a Diffused-Pivotality treatment where subjects simultaneously choose in groups of...

Persistent link: https://www.econbiz.de/10011084048

Contracting under Incomplete Information and Social Preferences: An Experimental Study

Hoppe, Eva I; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2013

cornerstone of contract theory. We have conducted an experiment with 720 participants to explore whether the theoretical insights …

Persistent link: https://www.econbiz.de/10011084433

Gathering Information before Signing a Contract: Experimental Evidence

Hoppe, Eva I; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2009

report about an experiment with 508 participants designed to test whether this fundamental trade-off is actually relevant. In …

Persistent link: https://www.econbiz.de/10005789080

Auction Theory: a Guide to the Literature

Klemperer, Paul - C.E.P.R. Discussion Papers - 1999

This paper provides an elementary, non-technical, survey of auction theory, by introducing and describing some of the …

Persistent link: https://www.econbiz.de/10005666747

Why every Economist should Learn some Auction Theory

Klemperer, Paul - C.E.P.R. Discussion Papers - 2000

in Seattle in August 2000. We discuss the strong connections between auction theory and 'standard' economic theory, and … argue that auction-theoretic tools and intuitions can provide useful argument and insights in a broad range of mainstream …

Persistent link: https://www.econbiz.de/10005792157

What Really Matters in Auction Design

Klemperer, Paul - C.E.P.R. Discussion Papers - 2000

The most important issues in auction design are the traditional concerns of competition policy-preventing collusive … discuss radiospectrum and football TV-rights auctions, electricity markets, and takeover battles), and the Anglo-Dutch auction … of the context; the circumstances of the recent UK mobile-phone license auction made an ascending format ideal. We also …

Persistent link: https://www.econbiz.de/10005114514