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Private Valuation of a Public Good in Three Auction Mechanisms / Evaluation privée d'un bien public dans trois mécanismes d'enchères
Dragicevic, Arnaud; Ettinger, David - Centre Interuniversitaire de Recherche en Analyse des … - 2010
We evaluate the impact of three auction mechanisms the BeckerDeGrootMarschak (BDM) mechanism, the second-price auction …, and the random nth-price auction in the measurement of private willingness-to-pay and willingness-to-accept for a pure … logarithmic scale, the random nth-price auction yields the highest speed of convergence to welfare indices' equality. Overall, we …
Persistent link: https://www.econbiz.de/10008543323
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Optimal Trading Mechanisms with Ex Ante Unidentified Traders
Lu, Hu; Robert, Jacques - Centre Interuniversitaire de Recherche en Analyse des … - 1997
We analyze optimal trading mechanisms in environments where each trader owns some units of a good to be traded and may be either a seller or a buyer, depending on the realization of privately observed valuations. First, the concept of virtual valuation is extended to ex ante unidentified...
Persistent link: https://www.econbiz.de/10005100533
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Auction versus Dealership Markets
Bennouri, Moez - Centre Interuniversitaire de Recherche en Analyse des … - 2003
This paper compares two market structures, namely auction and dealership markets defined respectively as centralized … viability, informational e.ciency, price variance, informed trading aggressiveness and market liquidity. We find that this … approach changes dramatically the results of previous works comparing these trading structures. Indeed, we prove that auction …
Persistent link: https://www.econbiz.de/10005169004
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Trust and Reputation Building in E-Commerce
Keser, Claudia - Centre Interuniversitaire de Recherche en Analyse des … - 2002
Transactions on online markets require a great deal of trust among anonymous trading partners. To mitigate some of the risks involved in anonymous transactions, several online market sites have implemented reputation management mechanisms that differ in structure and probably functionality. In a...
Persistent link: https://www.econbiz.de/10005100984
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A Micro-foundation for the Laffer Curve In a Real Effort Experiment
Lévy-Garboua, Louis; Masclet, David; Montmarquette, Claude - Centre Interuniversitaire de Recherche en Analyse des … - 2006
A conjecture of Laffer, which had considerable influence on fiscal doctrine, is that tax revenues of a Leviathan state eventually decrease when the tax rate exceeds a threshold value. We conduct a real effort experiment, in which a worker is matched with a non-working partner, to elicit the...
Persistent link: https://www.econbiz.de/10005101088
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Experimental Investigation of Supplier-Retailer Contracts: The Wholesale Price Contract
Keser, Claudia; Paleologo, Giuseppe A. - Centre Interuniversitaire de Recherche en Analyse des … - 2004
We examine decision making in a simple supplier-retailer wholesale price contract in the experimental economics …
Persistent link: https://www.econbiz.de/10005101106
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Competitive Insurance Markets and Adverse Selection in the Lab
Riahi, Dorra; Lévy-Garboua, Louis; Montmarquette, Claude - Centre Interuniversitaire de Recherche en Analyse des … - 2010
purchase full insurance at lower than fair price and some low risks purchase insurance at a price higher than their induced …
Persistent link: https://www.econbiz.de/10008560183
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Project Financing when the Principal Cannot Commit
Boyer, M. Martin - Centre Interuniversitaire de Recherche en Analyse des … - 2001
Suppose an entrepreneur needs funds from a financier to invest in a risky project whose cost is fixed, and whose return may be high or low. Suppose also that the project's realized return is an information that is private to the entrepreneur. If the amount the entrepreneur pays back to the...
Persistent link: https://www.econbiz.de/10005100663
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Resistance is Futile: An Essay in Crime and Commitment
Boyer, M. Martin - Centre Interuniversitaire de Recherche en Analyse des … - 2001
This paper studies a principal-agent relationship in a contractual crime setting. Suppose an agent and a principal sign a contract stipulating some transfer of funds from one player (say the agent) to the next (the principal) contingent on the state of the world announced by the first player. In...
Persistent link: https://www.econbiz.de/10005100773
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A Theory of Environmental Risk Disclosure
Gozlan, Estelle; Sinclair-Desgagné, Bernard - Centre Interuniversitaire de Recherche en Analyse des … - 2001
The regulation of environmental risks increasingly emphasizes the awareness and empowerment of stakeholders. The success of this approach, however, seems to depend crucially on the quality of environmental disclosures. In this paper we investigate the amount and quality of the information that...
Persistent link: https://www.econbiz.de/10005100795