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Competitive bidding in auctions with private and common values
Goeree, Jacob K.; Offerman, Theo - 2000
The objects for sale in most auctions possess both private and common value elements. This salient feature has not yet been incorporated into a strategic analysis of equilibrium bidding behaviour. This paper reports such an analysis for a stylised model in which bidders receive a private value...
Persistent link: https://www.econbiz.de/10011303293
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The Herodotus Paradox
Baye, Michael R.; Kovenock, Daniel J.; Vries, Casper G. de - 2010
The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for the two-player case with complete and incomplete...
Persistent link: https://www.econbiz.de/10003994504
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A sealed-bid auction that matches the English auction
Perry, Motty; Wolfstetter, Elmar; Zamir, Shemuʾel - 1998
This paper analyzes a two-stage sealed-bid auction that is frequently employed in privatization, takeover, and merger and acquisition contests. This auction format yields the same expected revenue as the open ascending (English) auction, yet is less susceptible to preemptive bidding and...
Persistent link: https://www.econbiz.de/10009578005
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Information structures in optimal auctions
Bergemann, Dirk; Pesendorfer, Martin - 2001
Persistent link: https://www.econbiz.de/10001618064
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A sealed-bid auction that matches the English auction
Perry, Motty; Wolfstetter, Elmar G.; Zamir, Shemuʾel - 2000
This paper analyzes a two-stage sealed-bid auction that is frequently employed in privatization, takeover, and merger and acquisition contests. This auction format yields the same expected revenue as the open ascending (English) auction, yet is less susceptible to preemptive bidding and collusion.
Persistent link: https://www.econbiz.de/10009781523
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Attention economies
Falkinger, Josef - 2003
developed which describes the general structure of competition for attention and characterizes equilibria. The exogenous … competing companies (senders) with their radiation technologies. The endogenous variables explained by the theory are …
Persistent link: https://www.econbiz.de/10011511091
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On the role of information in dynamic games of R&D
Stadler, Manfred - 1998
game of duopolistic R&D competition. By comparing open-loop and feedback Nash equilibria, representing imperfect and …
Persistent link: https://www.econbiz.de/10010407089
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Attention economies
Falkinger, Josef - 2003
developed which describes the general structure of competition for attention and characterizes equilibria. The exogenous … competing companies (senders) with their radiation technologies. The endogenous variables explained by the theory are …
Persistent link: https://www.econbiz.de/10001818066
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Competitive Information Discovery
Mandler, Michael - 2019
In classical models of markets, the state of nature is revealed regardless of the actions agents take. If instead agents can uncover information they will determine which states can be distinguished and thus which goods are traded. Competitive equilibria can then be inefficient. One source of...
Persistent link: https://www.econbiz.de/10012901091
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The Economics of Information Exchange between Competitors : Identifying the Optimal Policy Approach for Competition Authorities
Long, Sarah - 2018
Identifying the optimal policy approach for competition authorities to deal with information exchange between … and competition authorities alike. This paper analyses the economic literature in the area of information exchange, and …, competition authorities should implement clearer policy rules based on economic research demonstrating when the benefits of …
Persistent link: https://www.econbiz.de/10012910146