market conditions in the laboratory: a stylized book building approach, a closed book auction, and an open book auction. We …

novel call auction model with insider information. Our model predicts that more insider information improves informational … of insider information the call auction performs worse than continuous double auction. Testing these hypotheses in the … lab we find that insider information increases informational efficiency of call auction prices but does not decrease the …

current market conditions. This paper reports a laboratory experiment in which half of the bidders experienced unannounced … demand shift is reflected in sales prices under alternative auction formats. Price tracking is good for uniform-price, sealed …

auction system works, what it indicates about price formation, and how well it performs. We begin with a short description of … the mechanics of the auction system and then organize the remainder of our discussion around two major topics. The first … topic concerns how researchers have used auction prices. We begin by discussing the returns to holding art and whether …

The study has attempted to empirically examine the efficiency of Govt. securities auction in Indian market. It is … observed that prices of the securities under auction generally move downward between the date of announcement of auction and … the date of auction. The yield, duration, issue size, outstanding stocks of the security under auction have significant …

large orders and price changes during the last five seconds of the auction sessions. Such sniping attacks were associated … revert the day following a sniping attack. Although prices were on average more informative in a closing auction procedure …

reverse auction. Shares are allocated endogenously, depending on the suppliers ́bids. The procedure obtains dual sourcing by … than a standard auction for sole sourcing. We also show that providers reveal their costs truthfully and that the …

The Hong Kong Stock Exchange (HKEx) adopted a closing call auction in 2008 but suspended its operation ten months later … due to suspicion of widespread price manipulation. The Exchange relaunched the auction in 2016 with manipulation … call auction design on closing price manipulation. Our results indicate that a plain-vanilla call auction mechanism is …

We devise a tractable model to study the buyer's bid double auction (BBDA) that allows correlated signals and …