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Project modifications and bidding in highway procurement auctions
De Silva, Dakshina G.; Dunne, Timothy; Kosmopoulou, Georgia - 2015
This paper examines bidding behavior in a setting where post-bid-letting project modifications occur. These modifications change both the costs and payouts to the winning contractor, making the contract incomplete. Recent empirical research shows that bidders incorporate the likelihood of such...
Persistent link: https://www.econbiz.de/10011397241
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Procurement Auctions for Differentiated Goods
Swarthout, J. Todd - 2011
under compensates for quality advantages, creating a market distortion in which the buyer captures surplus at the expense of …
Persistent link: https://www.econbiz.de/10013130629
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The Price Effects of Using Firewalls as an Antitrust Remedy
Thomas, Charles J. - 2010
Antitrust authorities have imposed firewalls between the previously separate divisions of newly vertically integrated firms in several industries, to address concerns that access to horizontal rivals' proprietary information may reduce competition. This paper evaluates a specific antitrust...
Persistent link: https://www.econbiz.de/10013139815
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Competition in electricity spot markets : economic theory and international experience
Fehr, Nils-Henrik M. von der; Harbord, David Cameron - 1997
Persistent link: https://www.econbiz.de/10000651639
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Nonparametric identification and estimation of multi-unit, sequential, oral, ascending-price auctions with asymmetric bidders
Brendstrup, Bjarne; Paarsch, Harry J. - 2004
Persistent link: https://www.econbiz.de/10001976477
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Project Modifications and Bidding in Highway Procurement Auctions
De Silva, Dakshina G.; Dunne, Timothy; Kosmopoulou, Georgia - 2017
This paper examines bidding behavior in a setting where post-bid-letting project modifications occur. These modifications change both the costs and payouts to the winning contractor, making the contract incomplete. Recent empirical research shows that bidders incorporate the likelihood of such...
Persistent link: https://www.econbiz.de/10014048906
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Bidding Strategies in Internet Parallel Auctions
Huang, Ching-I; Chen, Kong-Pin; Chen, Jong-Rong; Chou, … - 2008
equilibrium bidding strategy of the buyers and the equilibrium price of each auction. Last-minute bids arise naturally in the …
Persistent link: https://www.econbiz.de/10014221330
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Winner's Curse, Reserve Prices and Endogenous Entry : Empirical Insights from Ebay Auctions
Bajari, Patrick L.; Hortaçsu, Ali - 2015
Internet auctions have recently gained widespread popularity and are one of the most successful forms of electronic commerce. We examine a dataset of eBay coin auctions to explore features of online bidding and selling behavior. We find that profit margins for bidders are slim on average, that...
Persistent link: https://www.econbiz.de/10014158940
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How Efficient are Decentralized Auction Platforms?
Bodoh-Creed, Aaron - 2016
We provide a model of a decentralized, dynamic auction market platform (e.g., eBay) in which a large number of buyers … with deadweight loss amounting to 13.5% of total possible market surplus. We also find that partial centralization - for … - selection of agents into the market - in assessing the implications of market design …
Persistent link: https://www.econbiz.de/10012983067
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Chapter 2. On the Numerical Solution of Equilibria in Auction Models with Asymmetries within the Private-Values Paradigm
Hubbard, Timothy P.; Paarsch, Harry J. - In: Handbook of computational economics : volume 3, (pp. 37-115). 2014
We describe and compare numerical methods used to approximate equilibrium bid functions in models of auctions as games of incomplete information. In such games, private values are modeled as draws from bidder-specific type distributions and pay-your-bid rules are used to determine transactions...
Persistent link: https://www.econbiz.de/10014025720