Showing 231 - 240 of 150,064
Persistent link: https://www.econbiz.de/10001618740
A distinguishing feature of the ECB's monetary policy setup is the preannouncement of a minimum bid rate in its weekly repo auctions. However, whenever interest rates are expected to decline, the minimum bid rate is viewed as too high and banks refrain from bidding, severely impeding the ECB's...
Persistent link: https://www.econbiz.de/10001784609
Persistent link: https://www.econbiz.de/10002000858
Persistent link: https://www.econbiz.de/10002994053
Persistent link: https://www.econbiz.de/10002994477
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
Public agencies rely on two key modes to procure goods and services: auctions and direct negotiations. The relative advantages of these two modes are still imperfectly understood. This paper therefore studies public procurement of regional passenger railway services in Germany, where regional...
Persistent link: https://www.econbiz.de/10014178117
the auction. Messages are primarily used to reduce the asymmetric information associated with transactions …
Persistent link: https://www.econbiz.de/10014182497
which two groups of bidders enter the auction at different times. The early bidders are offered a Buy-It-Now (BIN) option to … bidders (late bidders) enter the auction and both groups of bidders participate in a second-price sealed-bid auction without …
Persistent link: https://www.econbiz.de/10014184446
I review the uses of economic theory in the initial design and later improvement of the "simultaneous ascending auction … limitations of the auction, the roles of various detailed rules, the possibilities for introducing combinatorial bidding, and some … considerations in adapting the auction for sales in which revenue, rather than efficiency, is the primary goal …
Persistent link: https://www.econbiz.de/10014040263