Showing 1 - 8 of 8
competition (auctions) may not only increase the probability of default but also expected rents. Thus, weak conditions are … sufficient for auctions to be supoptimal. In particular, we show that pooling firms with higher assets may reduce the cost of …
Persistent link: https://www.econbiz.de/10010851473
We propose a model based on competitive markets in order to analyse an economy with several homogeneous landlords and heterogeneous tenants. We model the landlord- tenant economy as a two-sided matching game and characterise the equilibrium of this market. In equilibrium, contracts are Pareto...
Persistent link: https://www.econbiz.de/10010851498
We study innovation contests with asymmetric information and identical contestants, where contestants’ efforts and innate abilities generate inventions of varying qualities. The designer offers a reward to the contestant achieving the highest quality and receives the revenue generated by the...
Persistent link: https://www.econbiz.de/10010851325
sharing, house allocation and auctions, in spite of the substantive disparity between these cases. In a general framework that …
Persistent link: https://www.econbiz.de/10011115552
oral, ascending auctions for the right to choose are efficient. This is a common type of auction used for the sale of real …. This is also a common feature of auctions for the sale of real estate. …
Persistent link: https://www.econbiz.de/10010547200
A buyer with downward sloping demand faces a number of unit supply sellers. The paper characterizes optimal auctions in …
Persistent link: https://www.econbiz.de/10010547383
We study a situation in which an auctioneer wishes to sell an object to one of N risk-neutral bidders with heterogeneous preferences. The auctioneer does not know bidders' preferences but has private information about the characteristics of the object, and must decide how much information to...
Persistent link: https://www.econbiz.de/10010547390
private value auctions. We use a general notion of informativeness which allows us to compare the efficient with the …
Persistent link: https://www.econbiz.de/10010547489