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Early Round Upsets and Championship Blowouts

Harbaugh, Rick; Klumpp, Tilman - 2014

In equilibrium play of a two-round tournament we find that underdogs exert more effort in the opening round while favorites save more effort for the final. Ability differences between players are therefore compressed in the opening round so upsets are more likely, and amplified in the final so...

Persistent link: https://www.econbiz.de/10014029347

Capitalist investment and political liberalization

Myerson, Roger B. - In: Theoretical economics : TE ; an open access journal in … 5 (2010) 1, pp. 73-91

We consider a simple political-economic model where capitalist investment is constrained by the government's temptation … support reputational equilibria with more investment, even without liberalization. So we find a resources curse, where larger … resource endowments can decrease investment and reduce the ruler's revenue. The ruler's incentive to liberalize can be greatest …

Persistent link: https://www.econbiz.de/10011698620

Value bounds and best response violations in discriminatory share auctions

Häfner, Samuel - 2015

This paper analyzes a discriminatory share auction in which bidders submit non-increasing step functions with a bounded number of steps, the type space consists of private non-increasing marginal valuation functions, and the number of participants is random. I show that the interim utility can...

Persistent link: https://www.econbiz.de/10011629967

Buying fields and marrying daughters : an empirical analysis of Rosca auctions in a South Indian village

Klonner, Stefan - 2003

Persistent link: https://www.econbiz.de/10001760038

Strategic behavior and underpricing in uniform price auctions : evidence from Finnish treasury auctions

Keloharju, Matti; Nyborg, Kjell G.; Rydqvist, Kristian - 2003

Persistent link: https://www.econbiz.de/10001753251

Comparing open and sealed bid auctions : theory and evidence from timber auctions

Athey, Susan; Levin, Jonathan; Seira, Enrique - 2004

Persistent link: https://www.econbiz.de/10002994053

Behavioral biases of dealers in US Treasury auctions

Goldreich, David - 2004

Persistent link: https://www.econbiz.de/10002994270

Empirical Implications of Equilibrium Bidding in First-Price, Symmetric, Common Value Auctions

Hendricks, Kenneth; Pinkse, Joris; Porter, Robert H. - 2003

This paper studies federal auctions for wildcat leases on the Outer Continental Shelf from 1959 to 1970. These are leases where bidders privately acquire (at some cost) noisy, but equally informative signals about the amount of oil and gas that may be present. We develop a test of equilibrium...

Persistent link: https://www.econbiz.de/10014175755

The Fragility of Discretionary Liquidity Provision - Lessons from the Collapse of the Auction Rate Securities Market

Han, Song; Li, Dan - 2011

We study the fragility of discretionary liquidity provision by major financial intermediaries during systemic events. The laboratory of our study is the recent collapse of the auction rate securities (ARS) market. Using a comprehensive dataset constructed from auction reports and intraday...

Persistent link: https://www.econbiz.de/10014179447

Learning Differences in Mixed Common Value Auctions

Goertz, Johanna - 2007

I examine the behavior of subjects in common value auctions with both experienced and inexperienced bidders in the same market. Subjects know that they are competing against both experienced and inexperienced subjects and can observe bidding behavior of their opponents after an auction round....

Persistent link: https://www.econbiz.de/10014224544