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Inference of Bidders’ Risk Attitudes in Ascending Auctions with Endogenous Entry, Second Version
Fang, Hanming; Tang, Xun - Department of Economics, University of Pennsylvania - 2011
auctions, auction theory predicts bid distributions in Bayesian Nash equilibrium does not convey any information about bidders … risk averse. We show bidders' expected profits from entry into auctions is nonparametrically recoverable, if a researcher …
Persistent link: https://www.econbiz.de/10010543520
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Medicracy, Second Version
Mattozzi, Andrea; Merlo, Antonio - Department of Economics, University of Pennsylvania - 2007
We study the initial recruitment of individuals in the political sector. We propose an equilibrium model of political recruitment by two political parties competing in an election. We show that political parties may deliberately choose to recruit only mediocre politicians, in spite of the fact...
Persistent link: https://www.econbiz.de/10008467302
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Mediocracy, Third Version
Mattozzi, Andrea; Merlo, Antonio - Department of Economics, University of Pennsylvania - 2010
We study the recruitment of individuals in the political sector. We propose an equilibrium model of political recruitment by two political parties competing in an election. We show that political parties may deliberately choose to recruit only mediocre politicians, in spite of the fact that they...
Persistent link: https://www.econbiz.de/10008800609
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Inference of Bidders’ Risk Attitudes in Ascending Auctions with Endogenous Entry
Fang, Hanming; Tang, Xun - Department of Economics, University of Pennsylvania - 2013
Bidders’ risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … transaction prices and participation decisions in ascending auctions with entry costs. Nonparametric tests are proposed for two … of risk attitudes in a more general model of ascending auctions with selective entry, where bidders receive entry …
Persistent link: https://www.econbiz.de/10010699855