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Pérez-Castrillo, David; Wettstein, David - CESifo - 2014

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/10010877748

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

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

Comparative Analysis of Litigation Systems: An Auction-Theoretic Approach

Baye, Michael R.; Kovenock, Dan; Vries, Casper De - CESifo - 2000

A simple auction-theoretic framework is used to examine symmetric litigation environments where the legal ownership of a disputed asset is unknown by the court. The court observes only the quality of the case presented by each party, and awards the asset to the party presenting the best case....

Persistent link: https://www.econbiz.de/10005766092

Probabilistic Procurement Auctions

Giebe, Thomas; Schweinzer, Paul - CESifo - 2013

We analyse procurement auctions in which sellers are distinguished on the basis of the ratios of quality per unit of …

Persistent link: https://www.econbiz.de/10010678211

All-pay-all Aspects of Political Decision Making

Giebe, Thomas; Schweinzer, Paul - CESifo - 2013

We study decision making processes with non-standard all-pay structures. We motivate this interest through a group of regulatory, political, legal, military, and economic applications where individual actions determine the consequences for a larger group or the public. The common features of...

Persistent link: https://www.econbiz.de/10010679377