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price auction. Overall, the lower value bidder submits bids that exceed value about half the time. These patterns are not …
Persistent link: https://www.econbiz.de/10009752417
We study two-sided matching contests with two sets, A and B, each of which includes a finite number of heterogeneous agents with commonly known types. The agents in each set compete in a lottery (Tullock) contest, and then are assortatively matched, namely, the winner of set A is matched with...
Persistent link: https://www.econbiz.de/10014418053
high-demand time slots, and hinders the entry of other operators due to strategic and structural access barriers. To … time slots, and stricter oversight mechanisms to ensure transparency in timetable allocation. These measures aim to balance …
Persistent link: https://www.econbiz.de/10015408245
In recent years, several high-profile incidents have spurred research into games of timing. A framework emanating from the FlipIt model features two covert agents competing to control a single contested resource. In its basic form, the resource exists forever while generating value at a constant...
Persistent link: https://www.econbiz.de/10014443306
We report results from experimental first-price, sealed-bid, all-pay auctions for a good with a common and known value. We observe bidding strategies in groups of two and three bidders and under two extreme information conditions. As predicted by the Nash equilibrium, subjects use mixed...
Persistent link: https://www.econbiz.de/10010240829
With a laboratory experiment, we study the impact of buy-options and the corresponding buy-price on revenues and bidding behavior in (online) proxy-auctions with independent private valuations. We show that temporary buy-options may reduce revenues for two reasons: At low buy-prices, the...
Persistent link: https://www.econbiz.de/10011453215
equilibrium bidding. Subjects are allowed to gain experience for a fixed period of time prior to making a single payoff …
Persistent link: https://www.econbiz.de/10011993277
Buyer-seller networks where price is determined by an ascending-bid auction are important in many economic examples such as certain real estate markets, radio spectrum sharing, and buyer-supplier networks. However, it may be that some sellers are better off not participating in the auction. We...
Persistent link: https://www.econbiz.de/10011550488
Why do some incomplete information markets feature intermediaries while others do not? I study the allocation of two goods in an incomplete information setting with a single principal, multiple agents with unit demand, and interdependent valuations. I construct a novel dynamic mechanism...
Persistent link: https://www.econbiz.de/10014418049
We consider the problem of allocating heterogeneous objects to agents with money, where the number of agents exceeds that of objects. Each agent can receive at most one object, and some objects may remain unallocated. A bundle is a pair consisting of an object and a payment. An agent's...
Persistent link: https://www.econbiz.de/10014418154