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Optimal Auction Design For Multiple Objects with Externalities

Skreta, Vasiliki; Figueroa, Nicolas - Econometric Society - 2004

In this paper we characterize the optimal allocation mechanism for $N$ objects, (permits), to $I$ potential buyers, (firms). Firms' payoffs depend on their costs, the costs of competitors and on the final allocation of the permits, allowing for externalities, substitutabilities and...

Persistent link: https://www.econbiz.de/10005328894

Bidding with Securities: Auctions and Security Design

Skrzypacz, Andrzej; DeMarzo, Peter M.; Kremer, Ilan - Econometric Society - 2004

We study security-bid auctions in which bidders compete for an asset by bidding with securities. That is, they offer payments that are contingent on the realized value of the asset being sold. Standard auction mechanisms (such as first-price and second-price auctions) are not well defined unless...

Persistent link: https://www.econbiz.de/10005329016

Bidding with Securities: Auctions and Security Design

Skrzypacz, Andrzej; DeMarzo, Peter M.; Kremer, Ilan - Econometric Society - 2004

Persistent link: https://www.econbiz.de/10005063612

Multidimensional Private Value Auctions

Morris, Stephen; Fang, Hanming - Econometric Society - 2004

We consider parametric examples of two-bidder private value auctions in which each bidder observes her own private valuation as well as noisy signals about her opponent’s private valuation. In such multidimensional private value auction environments, we show that the revenue equivalence...

Persistent link: https://www.econbiz.de/10005699666

Double-Holdups in a Matching Model with Search Frictions and Endogenous Heterogeneity

Navarro, Lucas - Econometric Society - 2004

random matching model with endogenous heterogeneity. I analyze the efficiency properties of the equilibrium and find that in …

Persistent link: https://www.econbiz.de/10005328902

Are there restrictions to consumption smoothing in Latin American countries? Differences between OLS and GLS estimation

Teixeira, Humberto Carlos Faria; Issler, Joao Victor - Econometric Society - 2004

We study empirically how close consumption-smoothing models employing present-value relationships fit data for Latin-American countries, either in an open-economy or closed-economy environment. Bivariate VARS are estimated using either individual-system or a joint-system techniques (OLS or GLS -...

Persistent link: https://www.econbiz.de/10005129765

Investment in Human Capital in a Macrodynamic Framework: Redistributive Taxation, Public Debt and Welfare

Nascimento, Leandro Gonçalves do - Econometric Society - 2004

Efficient investment in human capital is a subject of great concern among economists. By means of an overlapping-generations macrodynamic model with credit constraints, imperfect insurance and exogenous labor supply, we appraise inefficiencies related to misinvestment in human capital and...

Persistent link: https://www.econbiz.de/10005130204

Efficient Mechanisms for Bilateral Trading with Cooperative Investment

Zhao, Rui Ray - Econometric Society - 2004

's private valuation. Complete contracts can be written on observable trade decisions. It is shown that efficiency level in …

Persistent link: https://www.econbiz.de/10005063600

Investment in Human Capital in a Macrodynamic Framework: Redistributive Taxation, Public Debt and Welfare

Nascimento, Leandro - Econometric Society - 2004

Persistent link: https://www.econbiz.de/10005699613

A Dynamic Approach to Estimate the Efficiency of U.S. Electric Utilities

Rungsuriyawiboon, Supawat - Econometric Society - 2004

The static production efficiency model and the dynamic duality model of intertemporal decision making using a … econometric models of dynamic efficiency with intertemporal cost minimizing firm behavior. The dynamic efficiency model is a … of variable inputs. The dynamic efficiency model is implemented by using the Generalized Method of Moment (GMM …

Persistent link: https://www.econbiz.de/10005702577