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facing collateral constraints. The model features two types of pecuniary externalities: collateral externalities, because the … resale price of capital affects collateral constraints, and distributive externalities, because buyers of old capital are …
Persistent link: https://www.econbiz.de/10013404421
, versus the option of making the reserve public by using it as the minimum bid level. In a field experiment, we auction 50 … that secret reserve prices make us worse off as sellers, by reducing the probability of the auction resulting in a sale …, deterring serious bidders from entering the auction, and lowering the expected transaction price of the auction. We also present …
Persistent link: https://www.econbiz.de/10013228611
Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … entry costs but contains exogenous variations of potential competition and auction characteristics. In the first scenario … equilibrium entry probabilities vary with observed auction characteristics and potential competition. We also show identification …
Persistent link: https://www.econbiz.de/10013076172
have a fixed end time. A natural experiment is available because the auctions on Amazon, while operating under otherwise … passed without a bid. The strategic differences in the auction rules are reflected in the auction data by significantly more … about ending the auction playing an important role …
Persistent link: https://www.econbiz.de/10013247196
Recently, economists have developed methods for structural estimation of auction models. Many researchers object to … explore whether structural auction models can generate reasonable estimates of bidders' private information. Using bid data … from auction experiments, we estimate four alternative structural models of bidding in first-price sealed-bid auctions: 1 …
Persistent link: https://www.econbiz.de/10013309205
“per install” basis—plays a major role in the mix and characteristics of auction winners, and, consequently, in their … number of such users. The distortion becomes worse as the auction gets more competitive and the number of bidders increases …
Persistent link: https://www.econbiz.de/10014090768
-making, the experiment markets stoves to husbands or wives in turn at randomly varying prices. We find that women - who bear …
Persistent link: https://www.econbiz.de/10013083388
(1998) natural experiment on the effects of sibling sex composition on fertility and labor supply. The replications are … determining where to locate an experiment and whether policy-makers should commission new experiments or rely on an existing …
Persistent link: https://www.econbiz.de/10013017496
In this paper, we examine a supply chain in which a single supplier sells to a downstream newsvendor-type retailer. We make two assumptions that enrich this simple and well-understood model. First, we consider a multi-period model, in which the sequence of events is as follows. In a period, t,...
Persistent link: https://www.econbiz.de/10014047671
As it becomes cheaper to copy and share digital content, vendors are turning to technical protections such as encryption. We argue that if protection is nevertheless imperfect, this transition will generally lower the prices of content relative to perfect legal enforcement. However, the effect...
Persistent link: https://www.econbiz.de/10012727035