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I study reputation models in which information about the long-run player's past behavior is dispersed among short-run players. I identify two challenges to reputation building when such information is aggregated via the short-run players' actions. First, when the long-run player's action can...
Persistent link: https://www.econbiz.de/10012169393
underperforms in terms of efficiency relative to the winner-pay auctions. …
Persistent link: https://www.econbiz.de/10012500904
underperforms in terms of efficiency relative to the winner-pay auctions. …
Persistent link: https://www.econbiz.de/10012502954
We consider a model of oligopolistic firms that have private information about their cost structure. Prior to competing in the market a competitive advantage, i.e., a cost reducing technology, is allocated to a subset of the firms by means of a multi-object auction. After the auction either all...
Persistent link: https://www.econbiz.de/10014196760
We study all-pay auctions where each player observes her private value as well as a noisy private signal about the … opponent’s value, following Fang and Morris’s (J Econ Theory 126(1):1–30, 2006) analysis of winner-pay auctions with …
Persistent link: https://www.econbiz.de/10013235168
This paper studies the problem of information provision in auctions. The linkage principle indicates that credibly …
Persistent link: https://www.econbiz.de/10013242047
It is commonly assumed in private value auctions that bidders have no information about the realization of the other …
Persistent link: https://www.econbiz.de/10009124829
This paper shows that in online car auctions, resellers are better at appraising the value of the cars they are bidding … on than are consumers. Using a unique data set of online car auctions, I show that differences in bidding behavior … information, one in which consumers are subsidized and one in which consumers are allowed into all-reseller auctions. Finally, I …
Persistent link: https://www.econbiz.de/10011430656
We consider a multi-dimensional procurement problem in which sellers have private information about their costs and about a possible design flaw. The information about the design flaw is necessarily correlated. We solve for the optimal Bayesian procurement mechanism that implements the efficient...
Persistent link: https://www.econbiz.de/10011976063
of charity auctions, art auctions, and spectrum auctions. …
Persistent link: https://www.econbiz.de/10011664217