In the variable supply auction considered here, the seller decides how many costumers with unit demand to serve after observing their bids. Bidders are uncertain about the seller's cost. We experimentally investigate whether a uniform or a discriminatory price auction is better for the seller in...

We examine an auction in which the seller determines the supply after observing the bids. We compare the uniform price and the discriminatory auction in a setting of supply uncertainty. Uncertainty is caused by the interplay of two factors: the seller's private information about marginal cost,...

Abstract This case study focuses on the following �rational riddle� raised in a recent popular economics book: Hotels in Britain usually charge per guest while hotels in the US typically charge per room. What is the reason for this difference? We propose a pricing model for extra services...

In the variable supply auction considered here, the seller decides how many costumers with unit demand to serve after observing their bids. Bidders are uncertain about the seller's cost. We experimentally investigate whether a uniform or a discriminatory price auction is better for the seller in...

Since 1989, there has been a sharp increase in the role of caste in determining political fortunes at both state and federal levels in India. As a consequence, significant inter-caste differences in earnings have the potential to stall the process of economic reforms. Yet, the patterns and...

In this paper we study a special class of mechanisms for price formation on mo-nopolistic markets: multiunit auctions with endogenous supply. We formally define these trade mechanisms as dynamic market games and characterize their subgame perfect equilibria. Conditions on the pricing rule are...

We examine an auction in which the seller determines the supply after observing the bids. We compare the uniform price and the discriminatory auction in a setting of supply uncertainty. Uncertainty is caused by the interplay of two factors: the seller's private information about marginal cost,...

Using a quantile vector autoregressive model to capture return dynamics in extreme market conditions, we find that the cryptocurrency market exhibits a high level of market connectedness. Bitcoin is a net transmitter of return spillovers during busts and a net receiver during booms. Analysis of...

In this study we examine the dynamics of return spillovers across four markets: the housing market, the mortgage and equity real estate investment trusts (REITs) markets, and the stock market in the United States. Applying the spillover index methodology by Diebold and Yilmaz (2012) on monthly...