Showing 1 - 10 of 282
Persistent link: https://www.econbiz.de/10000920226
Persistent link: https://www.econbiz.de/10001217285
Persistent link: https://www.econbiz.de/10001123312
Persistent link: https://www.econbiz.de/10001148007
Persistent link: https://www.econbiz.de/10000850950
Persistent link: https://www.econbiz.de/10000851604
Persistent link: https://www.econbiz.de/10001722060
In a general auction model with affiliated signals, common components to valuations and endogenous entry, we compute the equilibrium bidding strategies and outcomes, and derive a lower bound on the optimal reserve price. This lower bound can be computed using data on past auctions combined with...
Persistent link: https://www.econbiz.de/10012742009
In a general auction model with affiliated signals, common components to valuations and endogenous entry, we compute the equilibrium bidding strategies and outcomes, and derive a lower bound on the optimal reserve price. This lower bound can be computed using data on past auctions combined with...
Persistent link: https://www.econbiz.de/10012787185
Data from wine auctions indicates that identical products sold sequentially typically follow a decreasing pattern of prices, known as the afternoon effect. This is explained, for both first and second price auctions, by appealing to risk averse bidders. Earlier bids are then equal to expected...
Persistent link: https://www.econbiz.de/10012235776