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Contests as selection mechanisms : the impact of risk aversion
March, Christoph; Sahm, Marco - 2017
We investigate how individual risk preferences affect the likelihood of selecting the more able contestant within a two-player Tullock contest. Our theoretical model yields two main predictions: First, an increase in the risk aversion of a player worsens her odds unless she already has a...
Persistent link: https://www.econbiz.de/10011700456
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Contests as selection mechanisms : the impact of risk aversion
March, Christoph; Sahm, Marco - 2017
We investigate how individual risk preferences affect the likelihood of selecting the more able contestant within a two-player Tullock contest. Our theoretical model yields two main predictions: First, an increase in the risk aversion of a player worsens her odds unless she already has a...
Persistent link: https://www.econbiz.de/10011701971
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Participation in Contests with Asymmetric Information
Warneryd, Karl - 2006
We consider imperfectly discriminating, common-value, all-pay auctions (or contests) where some players know the value of the prize, others do not. We show that if the prize is always of positive value, then all players are active in equilibrium. If the prize is of value zero with positive...
Persistent link: https://www.econbiz.de/10014055053
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The effect of reputation on selling prices in auctions
Gürtler, Oliver; Grund, Christian - 2006
In economic approaches it is often argued that reputation considerations influence the behavior of individuals or firms … and that reputation influences the outcome of markets. Empirical evidence is rare though. In this contribution we argue … that a positive reputation of sellers should have an effect on selling prices. Analyzing auctions of popular DVDs at eBay …
Persistent link: https://www.econbiz.de/10010365875
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Front-Running, Smart Contracts, and Candle Auctions
Häfner, Samuel; Stewart, Alistair - 2021
Blockchain implementations of auctions have to deal with the problem of front-running: block production happens at discrete intervals, and anyone can inspect and react to the incoming bids before they are written on chain. The presence of smart contracts among bidders, a hallmark of automated...
Persistent link: https://www.econbiz.de/10013227449
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Optimal Mechanism Design with Resale Via Bargaining
Zhang, Jun - 2016
In this paper, we examine the optimal mechanism design of selling an indivisible object to one regular buyer and one publicly known buyer, where inter-buyer resale cannot be prohibited. The resale market is modeled as a stochastic ultimatum bargaining game between the two buyers. We fully...
Persistent link: https://www.econbiz.de/10012989366
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Reputation and Mechanism Choice in Procurement Auctions – An Experiment
Brosig, Jeannette; Heinrich, Timo - 2011
We experimentally study the role of reputation in procurement using two common mechanisms: price-based and buyer … buyer-determined auctions. Only in the latter buyers can consider the reputation of bidders. We find that bidders supply …In dieser experimentellen Studie untersuchen wir die Rolle von Reputation in der Beschaffung mit Hilfe von zwei …
Persistent link: https://www.econbiz.de/10010274444
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Reputation and Mechanism Choice in Procurement Auctions - An Experiment
Heinrich, Timo; Brosig-Koch, Jeannette - 2011
We experimentally study the role of reputation in procurement using two common mechanisms: price-based and buyer … buyer-determined auctions. Only in the latter buyers can consider the reputation of bidders. We find that bidders supply …
Persistent link: https://www.econbiz.de/10014182496
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Reputation and mechanism choice in procurement auctions : an experiment
Brosig-Koch, Jeannette; Heinrich, Timo - 2011
We experimentally study the role of reputation in procurement using two common mechanisms: price-based and buyer … buyer-determined auctions. Only in the latter buyers can consider the reputation of bidders. We find that bidders supply … price-based procurement ; reputation information ; auction choice ; experimental economics …
Persistent link: https://www.econbiz.de/10009124333
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Reputation, Trust, and Rebates : How Online Auction Markets Can Improve Their Feedback Mechanisms
Li, Lingfang (Ivy) - 2009
Reputation systems constitute an important institution to help sustain trust in online auction markets. However, only …
Persistent link: https://www.econbiz.de/10012720671