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An externality-robust auction : theory and experimental evidence
Bartling, Björn; Netzer, Nick - 2014 - This version: April 2014
An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected … externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … example are cross-shareholdings between companies that compete in an auction. We derive an auction that coincides with the SPA …
Persistent link: https://www.econbiz.de/10010360336
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Flow Trading
Budish, Eric B.; Cramton, Peter C.; Kyle, Albert S.; … - National Bureau of Economic Research - 2023
We introduce and analyze a new market design for trading financial assets. The design allows traders to directly trade any user-defined linear combination of assets. Orders for such portfolios are expressed as downward-sloping piecewise-linear demand curves with quantities as flows...
Persistent link: https://www.econbiz.de/10014250116
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Chapter 32 An Empirical Perspective on Auctions
Hendricks, Ken; Porter, Robert H. - In: Handbook of industrial organization : volume 3, (pp. 2073-2143). 2007
We describe the economics literature on auction markets, with an emphasis on the connection between theory, empirical …
Persistent link: https://www.econbiz.de/10014024584
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Mixed Bundling Auctions
Jehiel, Philippe; Meyer-Ter-Vehn, Moritz; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2006
. For any number of objects and bidders, both the pure bundling auction and separate, efficient auctions for the single … objects are revenue-inferior to an auction that involves mixed bundling. …
Persistent link: https://www.econbiz.de/10005667050
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The Effect of Reputation on Selling Prices in Auctions
Grund, Christian; Guertler, Oliver - In: Journal of Economics and Statistics (Jahrbuecher fuer … 228 (2008) 4, pp. 345-356
. Further, we challenge the recommendation that it is profitable for eBay sellers to let their auction end in the evening, when …
Persistent link: https://www.econbiz.de/10005790571
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Jump bidding and overconcentration in decentralized simultaneous ascending auctions
Zheng, Charles Z. - In: Games and Economic Behavior 76 (2012) 2, pp. 648-664
A model of English auctions is proposed to incorporate the possibility of jump bidding. When two objects are sold separately via such auctions, bidders signal their willingness to pay via jump bids, thereby forming rational expectations of the prices without relying on any central mediator....
Persistent link: https://www.econbiz.de/10010588270
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Auctions vs. negotiations in takeovers with initial stakes
Loyola, Gino - In: Finance Research Letters 9 (2012) 3, pp. 111-120
Takeover attempts from raiders with prior stakes in the target company (toeholds) are frequent in the market for corporate control. In this context, we propose a simple and realistic selling mechanism with an agenda of exclusive negotiations that discriminates against larger-toehold raiders....
Persistent link: https://www.econbiz.de/10010595312
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The Dynamic Vickrey Auction
Mierendorff, Konrad - In: Games and Economic Behavior 82 (2013) C, pp. 192-204
payment rule coincides with the payment rule of the Vickrey Auction. …
Persistent link: https://www.econbiz.de/10010719485
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Auction design with endogenously correlated buyer types
Krähmer, Daniel - In: Journal of Economic Theory 147 (2012) 1, pp. 118-141
This paper studies optimal auction design when the seller can affect the buyersʼ valuations through an unobservable ex …
Persistent link: https://www.econbiz.de/10011042975
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Auctions with a profit sharing contract
Abhishek, Vineet; Hajek, Bruce; Williams, Steven R. - In: Games and Economic Behavior 77 (2013) 1, pp. 247-270
An auction is used to sell a resource that is then developed by the winning buyer to generate a profit. Two forms of … general PSCs with nontrivial profit sharing than in an auction with only a one-time payment. …
Persistent link: https://www.econbiz.de/10011049754