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Why Every Economist Should Learn Some Auction Theory

Klemperer, Paul - EconWPA - 2000

This is an Invited paper for the World Congress of the Econometric Society held in Seattle in August 2000. We discuss the strong connections between auction theory and "standard" economic theory, and argue that auction-theoretic tools and intuitions can provide useful arguments and insights in a...

Persistent link: https://www.econbiz.de/10005135125

Auction Theory: A Guide to the Literature

Klemperer, Paul - EconWPA - 1999

This paper, forthcoming in Journal of Economic Surveys, provides an elementary, non-technical, survey of auction theory, by introducing and describing some of the critical papers in the subject. (The most important of these are reproduced in a companion book, The Economic Theory of Auctions,...

Persistent link: https://www.econbiz.de/10005413297

NEW PRODUCT DEVELOPMENT & MANAGEMENT OF KNOWLEDGE IN PORTUGUESE HIGHER EDUCATION

Batiz-Lazo, Bernardo; Gomes, Jorge; Mendes, Maria - EconWPA - 2002

This chapter uses key concepts in the knowledge management literature to analyse the procedures and practices used by a project management team to identify, create, store, disseminate, and apply knowledge management systems for successful project completion. This project allowed a long...

Persistent link: https://www.econbiz.de/10005412984

Bidding Markets

Klemperer, Paul - EconWPA - 2005

The existence of a ‘bidding market’ is commonly cited as a reason to tolerate the creation or maintenance of highly … ‘intervention against pernicious market power is unnecessary’, in markets characterized by auctions or bidding processes …. Furthermore we argue that the term ‘bidding market’ as it is widely used in antitrust is unhelpful or misleading. Auctions and …

Persistent link: https://www.econbiz.de/10005126056

Variable rate liquidity tenders

välimäki, tuomas - EconWPA - 2004

This paper constructs an equilibrium model for the short-term money market, when the central bank provides liquidity via variable rate tenders. The relation between market rate of interest and liquidity is derived from a single bank’s profit maximisation problem in the interbank market, and...

Persistent link: https://www.econbiz.de/10005561344

A Theory of Jump Bidding in Ascending Auctions

Isaac, R. Mark; Salmon, Timothy C.; Zillante, Arthur - EconWPA - 2004

Jump bidding is a commonly observed phenomenon that involves bidders in ascending auctions submitting bids higher than … bidding occurs due to strategic concerns and impatience. We go on to examine the impact of jump bidding on the outcome of …

Persistent link: https://www.econbiz.de/10005062369

Prices and the Winner's Curse

Bulow, Jeremy; Klemperer, Paul - EconWPA - 1999

We usually assume increases in supply, allocation by rationing, and exclusion of potential buyers will never raise prices. But all of these activities raise the expected price in an important set of cases when common-value assets are sold. Furthermore, when we make the assumptions needed to rule...

Persistent link: https://www.econbiz.de/10005118642

Low Information Games - Experimental Evidence on Learning in Ultimatum Bargaining

Slembeck, Tilman - EconWPA - 1999

This paper reports experimental evidence on behaviour in an Ultimatum Game where responders have low structural information and feedback so that they have to learn the nature of the game during repeated play. The results lend support to the view that certain learning conditions are less...

Persistent link: https://www.econbiz.de/10005125583

Universally Stable Adjustment Processes - A Unifying Approach

Herings, P.J.J. - EconWPA - 2001

Persistent link: https://www.econbiz.de/10005125648

Sons of Something: Taxes, Lawsuits and Local Political Control in Sixteenth Century Castile

Drelichman, Mauricio - EconWPA - 2005

The widespread ennoblement of the Spanish bourgeoisie in the sixteenth century has been traditionally considered one of the main causes of Iberian decline. I document and quantify the surge in ennoblement through a new time series of nobility cases preserved in the Archive of the Royal Chancery...

Persistent link: https://www.econbiz.de/10005125846