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Jeong, Byeongju - Center for Economic Research and Graduate Education and … - 2013

I present a model in which randomly matched pairs of people bargain over the division of output in each period. Output can be consumed or stored for later consumption. People are identical except possibly in wealth (i.e., the stored output). The one-period utility is linear except for the...

Persistent link: https://www.econbiz.de/10010842941

Simple Markovian Equilibria in Dynamic Spatial Legislative Bargaining

Zapal, Jan - Center for Economic Research and Graduate Education and … - 2014

The paper proves, by construction, the existence of Markovian equilibria in a model of dynamic spatial legislative bargaining. Players bargain over policies in an infinite horizon. In each period, a majority vote takes place between the proposal of a randomly selected player and the status-quo,...

Persistent link: https://www.econbiz.de/10010891911

Analysis of Electricity Industry Liberalization in Great Britain: How Did the Bidding Behavior of Electricity Producers Change?

Tashpulatov, Sherzod N. - Center for Economic Research and Graduate Education and … - 2010

Promoting competition among electricity producers is crucial for ensuring allocative efficiency and lower electricity prices. In this paper, I empirically examine the electricity market of England and Wales in order to analyze to what extent the regulatory reforms were successful in promoting...

Persistent link: https://www.econbiz.de/10008642457

Can Producers Apply a Capacity Cutting Strategy to Increase Prices? The Case of the England and Wales Electricity Market

Tashpulatov, Sherzod; Lizal, Lubomir - Center for Economic Research and Graduate Education and … - 2012

Promoting competition among electricity producers is primarily targeted at ensuring low electricity prices for consumers. Producers could, however, withhold part of production facilities (i.e., apply a capacity cutting strategy) and thereby push more expensive production facilities to satisfy...

Persistent link: https://www.econbiz.de/10010842939

Bidding Behavior in Multi-Unit Auctions - An Experimental Investigation and some Theoretical Insights

Engelmann, Dirk; Grimm, Veronika - Center for Economic Research and Graduate Education and … - 2003

and sealed-bid uniform-price auctions. Revenue equivalence is tested for these auctions as well as for the Ausubel, the … allocation of the units. We also provide some theoretical insights concerning the equilibria of uniform-price auctions with …

Persistent link: https://www.econbiz.de/10005357505

Properties of Equilibrium Strategies in Multiple-Unit, Uniform-Price Auctions

Bresky, Michal - Center for Economic Research and Graduate Education and … - 2008

is typical in single-unit auctions. Such an auction procedure implies a unique equilibrium strategy in some cases. Thus … the number of bid restriction and reservation price present in real-life multi-unit auctions restore some properties of … equilibrium strategies typical for single-unit auctions. …

Persistent link: https://www.econbiz.de/10005178132

Pure Equilibrium Strategies in Multi-unit Auctions with Private Value Bidders

Bresky, Michal - Center for Economic Research and Graduate Education and … - 2008

The paper examines a general class of multi-unit auctions. The class of games investigated includes uniform-price, pay …-your-bid, all-pay and Vickrey auctions as special cases. The seller offers k identical units of goods and sets the minimum accepted …-unit auctions are analyzed. …

Persistent link: https://www.econbiz.de/10005146514

Revenue and Efficiency in Multi-Unit Uniform-Price Auctions

Bresky, Michal - Center for Economic Research and Graduate Education and … - 2009

I show that in a private value multi-unit uniform-price auction, the reservation price increases both the efficiency and revenue. In equilibrium the difference between the true value of a unit and the submitted bid (shading) is different for each unit; therefore, the seller cannot allocate units...

Persistent link: https://www.econbiz.de/10005036039

Consumer Reactions To Unobserved Changes in Price Schedules

Katuscak, Peter - Center for Economic Research and Graduate Education and … - 2011

Economic theory presumes that individuals respond to true marginal prices when de- ciding on the amount of goods and services they buy and many other economic decisions. However, learning about these marginal prices is often costly in terms of search time, cog- nitive effort or monetary outlays....

Persistent link: https://www.econbiz.de/10008862260

Duopoly Competition, Escape Dynamics and Non-cooperative Collusion

Janjgava, Batlome; Slobodyan, Sergey - Center for Economic Research and Graduate Education and … - 2011

In this paper, we study an imperfect monitoring model of duopoly under similar settings as in Green and Porter (1984), but here firms do not know the demand parameters and learn about them over time though the price signals. We investigate how a deviation from rational expectations affects the...

Persistent link: https://www.econbiz.de/10009358657