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of position auctions are analyzed. Implications for reserve prices and a number of other auction design questions are …
Persistent link: https://www.econbiz.de/10004976949
leasehold rights be sold at public auction. There are two main types of auction: regular English auction and an unusual type … which we call a "two stage auction". The latter type of auction seems more subject to corruption, and to side deals between … positive selection as city officials divert hotter properties to a more corruptible auction form. The paper finds that, overall …
Persistent link: https://www.econbiz.de/10004980319
A common complaint about online auctions for consumer goods is the presence of "snipers," who place bids in the final seconds of sequential ascending auctions with predetermined ending times. The literature conjectures that snipers are best-responding to the existence of "incremental" bidders...
Persistent link: https://www.econbiz.de/10011165137
A large body of research has explored the importance of auction design and information structure for auction outcomes …. Much less work has considered the importance of the auction process. For example, in many auctions, auctioneers are present … and can impact the process of the auction by varying starting prices, level of price adjustments, the speed of the auction …
Persistent link: https://www.econbiz.de/10010821660
. Bidders can "buy-it-now" at a posted price, or "take-a-chance" in an auction where the top d > 1 bidders are equally likely to … mechanism increases revenue by 4.4% and consumer surplus by 14.5% compared to an optimal second-price auction. …
Persistent link: https://www.econbiz.de/10010821708
Regulating bidder participation in auctions can potentially increase efficiency compared to standard auction formats … with free entry. We show that the relative performance of two such mechanisms, a standard first-price auction with free … entry and an entry rights auction, depends non-monotonically on the precision of information that bidders have about their …
Persistent link: https://www.econbiz.de/10010821738
Consumer auctions were very popular in the early days of internet commerce, but today online sellers mostly use posted prices. Data from eBay shows that compositional shifts in the items being sold, or the sellers offering these items, cannot account for this evolution. Instead, the returns to...
Persistent link: https://www.econbiz.de/10010796544
asymmetric, multi-object, all-pay auction framework in Bodoh-Creed and Hickman (2014). We pay 5th through 8th grade students …
Persistent link: https://www.econbiz.de/10010890092
The combinatorial clock auction is becoming increasingly popular for large-scale spectrum awards and other uses …, replacing more traditional ascending or clock auctions. We describe some surprising properties of the auction, including a wide … the auction separates allocation and pricing, so that bidders are asked to make decisions that cannot possibly affect …
Persistent link: https://www.econbiz.de/10010950813
We measure the pass-through of emissions costs to electricity prices and explore its determinants. We perform both reduced-form and structural estimations based on optimal bidding in this market. Using rich micro-level data, we estimate the channels affecting pass-through in a flexible manner,...
Persistent link: https://www.econbiz.de/10010950912