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The performance of reverse auctions versus request for quotes when procuring goods with quality differences

Swarthout, J. Todd; Shachat, Jason - Econometric Society - 2004

message space as an open outcry English auction (descending because this is a procurement auction.) However, the auction is …The use of dynamic auctions is a major component in many enterprises' e-procurement initiatives. In the case where … submitted bid. The reverse auction has immerged as the most commonly adopted dynamic auction for this setting. In a reverse …

Persistent link: https://www.econbiz.de/10005329013

Delegating Procurement to Experts

Lewis, Tracy; Dai, Chifeng - Econometric Society - 2004

Buyers frequently delegate purchase decisions to sellers who are better informed about supply options and the cost of service. This paper analyzes how buyers optimally contract with sellers who vary in their expertise at prescribing service. We show that the most expert suppliers offer the...

Persistent link: https://www.econbiz.de/10005130176

Advances in economics and econometrics ; Vol. 2

Blundell, Richard W. (contributor); … - 2006 - 1. publ.

Persistent link: https://www.econbiz.de/10003423706

Precautionary Bidding in a Dynamic Model of Discrete Noncooperative Entry Deterrence

Varma, Gopal Das - Econometric Society - 2004

We consider competitive bidding for a business license, via an open ascending-price auction, between two symmetric …

Persistent link: https://www.econbiz.de/10005342186

The Effect of Cross Ownership on Competition in Auction Markets

Waehrer, Keith; Greenlee, Patrick - Econometric Society - 2004

We consider a model where bidders in an auction own passive partial claims over their rivals’ auction profits. While …-value auction, we find that such cross ownership has an effect similar to reducing the number of bidders while holding constant the … distribution of the highest value in the auction. A similar decrease in competition occurs in independent private-value second …

Persistent link: https://www.econbiz.de/10005329010

Bayesian Inference for Econometric Models using Empirical Likelihood Functions

Schorfheide, Frank; Moon, Hyungsik Roger - Econometric Society - 2004

Estimators based on moment conditions of the form E[g(X,t)], where t is a finite-dimensional parameter vector of interest, are a popular tool in applied econometrics. Unlike likelihood-based estimators, moment-based estimators do not require the researcher to specify the probability distribution...

Persistent link: https://www.econbiz.de/10005328951

The Growth of Global Equity Markets: A Closer Look

Li, Kai - Econometric Society - 2004

This paper presents both the time-series and cross-country evidence on the growth of global equity markets and attempts to shed some light on the sources of equity market growth. Using data on 33 countries, I find that development of financial intermediaries and openness to trade are positively...

Persistent link: https://www.econbiz.de/10005063590

Assessing the Impact of Private Sector Balance Sheets Effects on Financial Crises: a comparison of Bayesian and information-theoretic measures of model uncertainty

Weeks, M.; Godsill, S.; Stone, M. - Econometric Society - 2004

This paper examines the intensity of financial crises during the 1990s with a view to informing crisis prevention and mitigation policies. We compare the performance of a full Bayesian and an information-theoretic approach in addressing the econometric problems posed by the lack of a unifying...

Persistent link: https://www.econbiz.de/10005699629

Asymmetric Information, Stock Returns and Monetary Policy: A Theoretical and Empirical Analysis

Tas, Bedri Kamil Onur - Econometric Society - 2004

It is known that stock returns are affected by monetary policy. This paper theoretically and empirically investigates whether asymmetric information between the Federal Reserve and the public causes the relation between stock returns and monetary policy actions. The paper concludes that...

Persistent link: https://www.econbiz.de/10005130171

Competitive Equilibria and the Core of Exchange Economies under Asymmetric Information

Clippel, Geoffroy de - Econometric Society - 2004

I argue in favor of a competitive screening approach for studying the question of coalition formation in exchange economies under asymmetric information. I obtain a new notion of core that refines Wilson (1978)'s coarse core. It is nonempty under the standard regularity conditions. I also...

Persistent link: https://www.econbiz.de/10005130196