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The impact of the irrelevant : temporary buy-options and bidding behavior in auctions
Peeters, Ronald; Strobel, Martin; Vermeulen, Dries; … - In: Games 7 (2016) 1, pp. 1-19
-prices, bidders are reluctant to bid above the option price (even though the option is no longer available once an auction has started …
Persistent link: https://www.econbiz.de/10011453215
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A new approach to identifying generalized competing risks models with application to second-price auctions
Komarova, Tatiana - In: Quantitative economics : QE ; journal of the … 4 (2013) 2, pp. 269-328
This paper proposes an approach to proving nonparametric identification for distributions of bidders’ values in asymmetric second-price auctions. I consider the case when bidders have independent private values and the only available data pertain to the winner’s identity and the transaction...
Persistent link: https://www.econbiz.de/10011757066
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Large sample properties for estimators based on the order statistics approach in auctions
Menzel, Konrad; Morganti, Paolo - In: Quantitative economics : QE ; journal of the … 4 (2013) 2, pp. 329-375
For symmetric auctions, there is a close relationship between distributions of order statistics of bidders’ valuations and observable bids that is often used to estimate or bound the valuation distribution, optimal reserve price, and other quantities of interest nonparametrically. However, we...
Persistent link: https://www.econbiz.de/10011757071
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Flexible Bayesian analysis of first price auctions using a simulated likelihood
Kim, Dong-hyuk - In: Quantitative economics : QE ; journal of the … 6 (2015) 2, pp. 429-461
I propose a Bayesian method to analyze bid data from first-price auctions under private value paradigms. I use a series representation to specify the valuation density so that bidding monotonicity is always satisfied, and I impose density affiliation by the nonparametric technique of Beresteanu...
Persistent link: https://www.econbiz.de/10011757715
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Auctions versus private negotiations in buyer-seller networks
Watts, Alison - In: Games 7 (2016) 3, pp. 1-14
Buyer-seller networks where price is determined by an ascending-bid auction are important in many economic examples … sellers are better off not participating in the auction. We consider what happens if sellers can make a take it or leave it … offer to one of their linked buyers before the auction takes place and thus such a seller can choose not to participate in …
Persistent link: https://www.econbiz.de/10011550488
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On the clock of the combinatorial clock auction
Janssen, Maarten C. W.; Kasberger, Bernhard - In: Theoretical economics : TE ; an open access journal in … 14 (2019) 4, pp. 1271-1307
The Combinatorial Clock Auction (CCA) has frequently been used in recent spectrum auctions. It combines a dynamic clock …
Persistent link: https://www.econbiz.de/10012158791
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First‐price auctions with budget constraints
Kotowski, Maciej H. - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 1, pp. 199-237
Consider a first-price, sealed-bid auction with interdependent valuations and private budget constraints. Focusing on …). The presence of budget constraints may lead to multiple symmetric equilibria in the first-price auction. …
Persistent link: https://www.econbiz.de/10012159049
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Challenges of electronic reverse auctions in construction industry : a review
Hanák, Tomáš; Marović, Ivan; Jajac, Nikša - In: Economies : open access journal 8 (2020) 1/13, pp. 1-14
the study indicate that studies are addressing especially five main areas, i.e., suitability of electronic reverse auction …
Persistent link: https://www.econbiz.de/10012168678
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First-price auctions, Dutch auctions, and buy-it-now-prices with Allais paradox bidders
Nakajima, Daisuke - In: Theoretical economics : TE ; an open access journal in … 6 (2011) 3, pp. 473-498
with such preferences. We show that the Dutch auction systematically yields a higher revenue than the first-price auction … in the expected utility case. We also show that introducing a "buy-it-now-price" to the first-price auction increases …
Persistent link: https://www.econbiz.de/10011691088
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Several remarks on Banach-Mazur games and its applications
Drabik, Ewa - In: Foundations of Management : the journal of Warsaw … 5 (2013) 1, pp. 21-25
Certain type of perfect information games (PI-games), the so-called Banach-Mazur games, so far have not been applied in economy. The perfect information positional game is defined as the game during which at any time the choice is made by one of the players who is acquainted with the previous...
Persistent link: https://www.econbiz.de/10011855029