Showing 1 - 10 of 14
auctions, with multidimensional independent types and no monotonic assumptions. When the conditions are not satisfied, we are …
Persistent link: https://www.econbiz.de/10005328867
of the timber sale auctions held in Oregon illustrate the usefulness and feasibility of our approach. …
Persistent link: https://www.econbiz.de/10005328964
We develop a model in which firms set their salary levels before matching with workers. Wages fall relative to any competitive equilibrium while profits rise almost as much, implying little inefficiency. Furthermore, the best firms gain the most from the system while wages become compressed. We...
Persistent link: https://www.econbiz.de/10005328996
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
We consider two-round elimination tournaments where players have fixed resources instead of cost functions. Two approaches are suggested. If the players have the same resources and a success function is stochastic, then players always spend more resources in the first than in the second round in...
Persistent link: https://www.econbiz.de/10005342250
auctions with bidding credits. Moreover, both the buyer and seller receive more surplus in the English auction with bidding …
Persistent link: https://www.econbiz.de/10005342347
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
This paper considers the possibility that a seller can contract with one uninformed buyer prior to an auction involving two potential buyers. In a more general setting than previous literature, strategic ex-ante contracts not only extract rent from entrants, but could also mitigate the...
Persistent link: https://www.econbiz.de/10005130202
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
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