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A Short Review of Theoretical Research in Takeover Auctions
Dodonova, Anna - 2017
This paper presents a short survey of theoretical research in takeover auctions. It concentrates on the models of preemptive jump bidding and the effect of toeholds as well as the models that investigate the combination of these two effects
Persistent link: https://www.econbiz.de/10012951400
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Chapter 27 Market Design Using Agent-Based Models
Marks, Robert - In: Handbook of computational economics : volume 2, …, (pp. 1339-1380). 2006
markets in silico, using electricity markets and on-line double auctions as illustrations. A monopoly sealed-bid auction is … examined in the tenth paper, and a new auction mechanism is evolved and analyzed. The chapter concludes that, as modeling the …
Persistent link: https://www.econbiz.de/10014024378
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Buyer Behavior under Best Offer Mechanism : A Theoretical Model and Empirical Evidence from eBay Motors
Huang, Ching-I - 2012
The popular Internet marketplace, eBay, introduced the Best Offer format in 2005. This paper studies buyer's behavior under such a mechanism. We characterize this mechanism as a sequential-move game between the seller of an item and its buyers. Our model suggests that a rational buyer's offer...
Persistent link: https://www.econbiz.de/10013115850
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Price dispersion in the online auction markets
Luo, Sha - 2008
Along the standard measures of price dispersion, this paper proposes a new method, the residual variance model, to examine the levels of price and price variation within and across 10 kinds of physically identical products on eBay UK. The results find that the price levels and price dispersions...
Persistent link: https://www.econbiz.de/10011523675
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A Principal-Agent Model of Bidding Firms in Multi-Unit Auctions
Paulsen, Per - 2016
Principal-agent relationships between the supervisory board and the management of bidding firms in auctions are widespread in high-stakes auctions. Often only the agent has information about the value of the objects being sold. The board wants to maximize the profit, but the management wants to...
Persistent link: https://www.econbiz.de/10012992976
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Auctions and Negotiations in Housing Price Dynamics
Genesove, David - 2020
How homes sell matters for housing price dynamics. Auction prices forecast better, display less momentum and help … shocks to prices differently and, in light of auction and bargaining theories, suggest price momentum originates in sluggish …
Persistent link: https://www.econbiz.de/10012824334
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A Solution to Airport Delays
Whalen, W. Tom; Carlton, Dennis W.; Heyer, Ken; … - 2009
Airport delays are increasingly significantly. These delays are largely attributable to increased congestion on runways and at gates as airlines increasingly use smaller but more frequently-departing passenger jets. This paper proposes reducing congestion by auctioning off takeoff and landing...
Persistent link: https://www.econbiz.de/10014218767
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Selling Picasso paintings: the efficiency of auction houses.
Førsund, Finn R.; Zanola, Roberto - International Centre for Economic Research (ICER) - 2001
Previous works applying hedonic price technique to determine the formation of auction prices of objects of art have … found no conclusive result about the impact of auction houses on final prices. In these studies the object of art has been … the unit, and influence of auction houses is analysed by testing whether auction house impact on price is significant or …
Persistent link: https://www.econbiz.de/10005427065
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Visualization of Competitive Market Structure by Means of Choice Data
Kunz, Werner - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2007
This paper presents a method for visualizing competitive market structures based on scanner panel data where asymmetries are taken into account. For this, I combined consumer choice models based on mixed logit models with three-mode principal component analysis. This approach can be used to...
Persistent link: https://www.econbiz.de/10005861013
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Explaining Assymetric Volatility Around the World
Talpsepp, Tõnn; Rieger, Marc Oliver - National Centre of Competence in ResearchFinancial … - 2009
Based on the APARCH model and two outlier detection methods, we computereliable time series of volatility asymmetry for 49 countries with relatively few ob-servations. Results show a steady increase in the asymmetry over the years for mostcountries. We nd that economic development and market...
Persistent link: https://www.econbiz.de/10005868728