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Asker, John; Cantillon, Estelle - C.E.P.R. Discussion Papers - 2004

This Paper studies scoring auctions, a procedure commonly used to buy differentiated products: suppliers submit offers on all dimensions of the good (price, level of non monetary attributes), and these are evaluated using a scoring rule. We provide a systematic analysis of equilibrium behaviour...

Persistent link: https://www.econbiz.de/10005497976

The Impact of the Droit de Suite in the UK: An Empirical Analysis

Banternghansa, Chanont; Graddy, Kathryn - C.E.P.R. Discussion Papers - 2009

changes in the UK auction market for art that is subject to the Droit de Suite (DDS), relative to changes for art not subject … to the DDS, and also relative to changes in the auction markets for art in countries where there has been no change in … impact on the UK art auction market. …

Persistent link: https://www.econbiz.de/10005662156

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

On the Uniqueness of Optimal Prices Set by Monopolistic Sellers

den Berg, Gerard J van - C.E.P.R. Discussion Papers - 2005

This paper considers price determination by monopolistic sellers who know the distribution of valuations among the potential buyers. We derive a novel condition under which the optimal price set by the monopolist is unique. In many settings, this condition is easy to interpret, and it is valid...

Persistent link: https://www.econbiz.de/10005789129

How to Win a Decision in a Confederation

Jehiel, Philippe; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 2002

This Paper deals with collective decision making within a group of independent jurisdictions. The right to choose the public policy is delegated from the central authority of one of the jurisdictions through a bidding procedure among the group members. We identify the following trade-off:...

Persistent link: https://www.econbiz.de/10005661614

The Allocation of European Union Allowances. Lessons, Unifying Themes and General Principles

Buchner, Barbara; Carraro, Carlo; Ellerman, A Denny - C.E.P.R. Discussion Papers - 2006

This paper is the concluding chapter of Rights, Rents and Fairness: Allocation in the European Emissions Trading Scheme … lessons and general principles to be learnt from the allocation of allowances in the European Union Emission Trading Scheme … allocation process and on what are the global implications of the EU ETS. As has become obvious during the first allocation phase …

Persistent link: https://www.econbiz.de/10005667060

Optimal Capital Allocation Using RAROC And EVA

Stoughton, Neal; Zechner, Josef - C.E.P.R. Discussion Papers - 1999

This paper analyzes financial institutions' capital allocation decisions when their required equity capital depends on … can be delegated through an economic value added (EVA) compensation contract and solve for the optimal capital allocation …

Persistent link: https://www.econbiz.de/10005661956

Using and Abusing Economic Theory

Klemperer, Paul - C.E.P.R. Discussion Papers - 2003

Economic theory is often abused in practical policy-making. There is frequently excessive focus on sophisticated theory at the expense of elementary theory; too much economic knowledge can sometimes be a dangerous thing. Too little attention is paid to the wider economic context, and to the...

Persistent link: https://www.econbiz.de/10005498003

Auctions with Anticipated Emotions: Overbidding, Underbidding, and Optimal Reserve Prices

Roider, Andreas; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2007

valuations. We show that the experimental evidence can be explained by a simple extension of the standard auction model, where …

Persistent link: https://www.econbiz.de/10005498113

The Winner's Curse and the Failure of the Law of Demand

Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 1997

We usually assume increases in supply, allocation by rationing, and exclusion of potential buyers will never raise …

Persistent link: https://www.econbiz.de/10005114197