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This paper studies equilibria of second price auctions in independent private value envi- ronments with different participation costs. Two types of equilibria are identified: monotonic equilibria in which a bidder with a lower participation cost results in a lower cutoff for sub- mitting a bid,...
Persistent link: https://www.econbiz.de/10011260669
We study equilibria in second price auctions when bidders are independently and privately informed about both their values and participation costs and their joint distributions across bidders are not necessarily identical. We show that there always exists an equilibrium in this general setting...
Persistent link: https://www.econbiz.de/10011085517
This paper studies equilibria of second price auctions when values and participation costs are both privation information and are drawn from general distribution functions. We consider the existence and uniqueness of equilibrium. It is shown that there always exists an equilibrium for this...
Persistent link: https://www.econbiz.de/10011112898
This paper characterizes the equilibria of first price auctions with participation costs in the independent private values environment. Bidders use cutoff strategies to decide whether they will participate in the auction. It is shown that, when bidders are homogeneous, there always exists a...
Persistent link: https://www.econbiz.de/10008495012
Persistent link: https://www.econbiz.de/10010642024
Pyrolysis is an alternative form of renewable energy production and a potential source of greenhouse gas emissions mitigation. This study examines how poplar-based biochar can be applied in Taiwan for electricity generation and for soil improvement and to what extent it brings economic and...
Persistent link: https://www.econbiz.de/10011046906
Persistent link: https://www.econbiz.de/10005527097
Persistent link: https://www.econbiz.de/10005527168
This paper considers Bayesian and Nash implementation in exchange economic environments with state dependent preferences and feasible sets. We fully characterize Bayesian implementability for both diffuse and non-diffuse information structures. We show that, in exchange economic environments...
Persistent link: https://www.econbiz.de/10005369436
Persistent link: https://www.econbiz.de/10005370909