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Klemperer, Paul - Department of Economics, Oxford University - 2004

picking selectively â€“ an advanced undergraduate or MBA course on auctions and auction design. Part A introduces the basic … superficially unconnected with auctions. Part C discusses practical auction design. Part D describes the one-hundred-billion dollar … 3G mobile-phone license auctions. None of the writing is technical, except in the Appendices. …

Persistent link: https://www.econbiz.de/10011133069

Why Do Sellers (Usually) Prefer Auctions?

Klemperer, Paul; Bulow, Jeremy - Department of Economics, Oxford University - 2009

We compare the most common methods for selling a company or other asset when participation is costly: a simple simultaneous auction, and a sequential process in which potential buyers decide in turn whether or not to enter the bidding. The sequential process is always more efficient. But...

Persistent link: https://www.econbiz.de/10011004186

Public or private equity? How accelerated IPOs can increase competition in offerings

Jenkinson, Tim - Department of Economics, Oxford University - 2008

This clinical paper analyses a new way of conducting IPOs which has recently been introduced in the U.K. The essential feature of Accelerated IPOs (aIPOs) is that investors from syndicates to bid for the entire offering, and then execute an immediate IPO (within a week). Vendors can use an...

Persistent link: https://www.econbiz.de/10011004200

Online Advertising and Privacy

Cornière, Alexandre de; Nijs, Romain De - Department of Economics, Oxford University - 2013

An online platform makes a profit by auctioning an advertising slot that appears whenever a consumer visits its website. Several firms compete in the auction, and consumers differ in their preferences. Prior to the auction, the platform gathers data which is statistically correlated with...

Persistent link: https://www.econbiz.de/10011004283

Instant Exit from the Asymmetric War of Attrition

Myatt, David P. - Department of Economics, Oxford University - 2005

In an asymmetric war of attrition the players` prize valuations are drawn from different distributions. A stochastic strength ordering, based upon relative hazard rates, is used to rank these distributions. The stochastically stronger player is perceived to be strong ex ante, even though her...

Persistent link: https://www.econbiz.de/10005047908

Anatomy of the Rise and Fall of a Price-Fixing Conspiracy: Auctions at Sotheby`s and Christie`s

Graddy, Kathryn; Ashenfelter, Orley - Department of Economics, Oxford University - 2004

theory of auctions shows that it is unlikely that successful buyers as a group were injured. …

Persistent link: https://www.econbiz.de/10005047917

Auctions and the Price of Art

Graddy, Kathryn; Ashenfelter, Orley - Department of Economics, Oxford University - 2002

auctions, much of it in response to empirical findings, and we review three key findings. First, the evidence suggests that art …

Persistent link: https://www.econbiz.de/10005090695

Declining Values and the Afternoon Effect: Evidence from Art Auctions.

Beggs, A.; Graddy, K. - Department of Economics, Oxford University - 1996

This paper reports the results of a study on the order of sale in art auctions. The final bid relative to the autionner …

Persistent link: https://www.econbiz.de/10005051084

Testing for Reference Dependence: An Application to the Art Market

Beggs, Alan; Graddy, Kathryn - Department of Economics, Oxford University - 2005

This paper tests for reference dependence, using data from Impressionist and Contemporary Art auctions. We distinguish …

Persistent link: https://www.econbiz.de/10005051134

Failure to Meet the Reserve Price: The Impact on Returns to Art

Beggs, Alan; Graddy, Kathryn - Department of Economics, Oxford University - 2006

This paper presents an empirical study of paintings that have failed to meet their reserve price at auction. In the art trade it is often claimed that when an advertised item goes unsold at auction, its future value will be affected. We have constructed a new dataset specifically for the purpose...

Persistent link: https://www.econbiz.de/10005051155