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Group Size and Social Ties in Microfinance Institutions

Abbink, Klaus; Irlenbusch, Bernd - Econometric Society - 2004

Microfinance programmes provide poor people with small loans given to jointly liable self-selected groups. Follow-up loans provide incentives to repay. In an experiment we investigate the influence of those features on strategic default. Each group member invests in an individual risky project,...

Persistent link: https://www.econbiz.de/10005342371

Gangadharan, Lata; Cason, Timothy N. - Econometric Society - 2004

Unexpected variation in emissions can have an enormous impact on the prices of emission permits and the efficiency achieved in tradable permit markets. Shocks to emission levels can be correlated across firms; for example, most firms require more emission permits than planned for following a...

Persistent link: https://www.econbiz.de/10005063649

An Experimental Analysis of Third-Party Response to Corruption

Gangadharan, Lata; Chaudhuri, Ananish; Erkal, Nisvan - Econometric Society - 2004

It is a well-established fact that corruption is a widespread phenomenon. An important aspect of corruption is that two parties act jointly in order to further their own interests at the expense of a third party. The response of the third party has a significant impact on the persistence of...

Persistent link: https://www.econbiz.de/10005702531

Pure Strategy Equilibria of Multidimensional and Non-Monotonic Auctions

Araujo, Aloisio; Filho, Luciano I. de Castro - Econometric Society - 2004

auctions, with multidimensional independent types and no monotonic assumptions. When the conditions are not satisfied, we are …

Persistent link: https://www.econbiz.de/10005328867

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 …-price and second-price auctions) are not well defined unless the set of securities is restricted to an ordered set. For example …

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

A Rent Extraction Theory of Right of First Refusal

Choi, Albert - Econometric Society - 2004

When a seller gives a buyer a right of first refusal, although it reduces the competing buyers' profits and creates an inefficiency, it always increases the joint profit of the seller and the right holder. Right of first refusal with a consideration (e.g., a payment from the right holder to the...

Persistent link: https://www.econbiz.de/10005342352

The Effect of Corruption on Bidding Behavior in First-Price Auctions

Weinschelbaum, Federico; Arozamena, Leandro - Econometric Society - 2004

Most of the literature on auctions assumes that the auctioneer owns the object on sale. However most auctions are …

Persistent link: https://www.econbiz.de/10005063558

Survival Auctions

Ye, Lixin; Kagel, John; Pevnitska, Svetlana - Econometric Society - 2004

Ascending price clock auctions with drop-out information typically yield outcomes closer to equilibrium predictions … than do comparable sealed-bid auctions. However clock auctions require congregating all bidders for a fixed time interval … paper studies whether such inefficiencies can be removed by implementing a survival auction mechanism. Survival auctions are …

Persistent link: https://www.econbiz.de/10005063602

Bidding with Securities: Auctions and Security Design

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

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

An optimal auction with identity-dependent externalities

Aseff, Jorge; Chade, Hector - Econometric Society - 2004

We analyze the problem of a seller who has multiple units of a good and faces a set of buyers with unit demands, private information, and identity-dependent externalities. We derive the seller's optimal mechanism and characterize its main properties. As an application of the model, we consider...

Persistent link: https://www.econbiz.de/10005699600