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Core-stable Rings in Auctions with Independent Private Values

Biran, Omer; Forges, Francoise - CESifo - 2010

characteristic function, derived from the partition form game, is not empty. As an application, we study collusion in auctions in …

Persistent link: https://www.econbiz.de/10008583724

Collusion in Beauty Contests

Wambach, Achim - CESifo - 2002

During the recent sales of UMTS licenses in Europe some countries used auctions while others resorted to so … argument why beauty contests or negotiations might be dominated by auctions, which is closely linked to the multi …

Persistent link: https://www.econbiz.de/10005051542

Innovation Contests

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

Reserve Price Formation in Online Auctions

Englmaier, Florian; Schmöller, Arno - CESifo - 2008

We use a unique hand collected data set of 6 258 auctions from the online football manager game Hattrick to study micro …

Persistent link: https://www.econbiz.de/10005766032

Does Laboratory Trading Mirror Behavior in Real World Markets? Fair Bargaining and Competitive Bidding on EBay

Bolton, Gary E.; Ockenfels, Axel - CESifo - 2008

We conducted a controlled field experiment on eBay and examined to what extent both social and competitive laboratory behavior is robust to institutionally complex real world markets with experienced traders, who selected themselves into these markets. EBay’s natural trading system provides...

Persistent link: https://www.econbiz.de/10005181559

Auctions with Imperfect Commitment when the Reserve May Serve as a Signal

Jun, Byoung Heon; Wolfstetter, Elmar G. - CESifo - 2014

If bidders are uncertain whether the auctioneer sticks to the announced reserve, some bidders respond by strategic non-participation, speculating that the auctioneer may revoke the reserve. However, the reserve inadvertently signals the auctioneer’s type, which drives a unique separating and a...

Persistent link: https://www.econbiz.de/10010735190

Auctions vs. Negotiations: The Case of Favoritism

Gretschko, Vitali; Wambach, Achim - CESifo - 2012

We compare two commonly used mechanisms in procurement: auctions and negotiations. The execution of the procurement …

Persistent link: https://www.econbiz.de/10010599726

Pricing and Incentives in Publicly Subsidized Health Care Markets: the Case of Medicare Part D

Decarolis, Francesco - Department of Economics, University of Pennsylvania - 2012

In Medicare Part D, low income individuals receive subsidies to enroll into insurance plans. This paper studies how premiums are distorted by the combined effects of this subsidy and the default assignment of low income enrollees into plans. Removing this distortion could reduce the cost of the...

Persistent link: https://www.econbiz.de/10010559468

Auctions vs. Negotiations: The Effects of Inefficient Renegotiation

Herweg, Fabian; Schmidt, Klaus - CESifo - 2015

post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms … auctions if sellers are likely to have superior information about possible design improvements, if renegotiation is costly, and … incentives for sellers to investigate possible design improvements than auctions. This provides an explanation for the widespread …

Persistent link: https://www.econbiz.de/10011210403

The Third Generation (UMTS) Spectrum Auction in Germany

Grimm, Veronika; Riedel, Frank; Wolfstetter, Elmar G. - CESifo - 2001

competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and …

Persistent link: https://www.econbiz.de/10005094495