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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

Discrimination in Dynamic Procurement Design with Learning-by-doing

Barbosa, Klenio; Boyer, Pierre C. - CESifo - 2012

Discriminatory programs that favor local and small firms in government procurement are common in many countries. This paper studies the long-run impact of procurement discrimination on market structure and future competition in industries where learning-by-doing makes incumbent firms more...

Persistent link: https://www.econbiz.de/10010578155

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