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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

The use of dynamic auctions is a major component in many enterprises' e-procurement initiatives. In the case where … message space as an open outcry English auction (descending because this is a procurement auction.) However, the auction is … 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

Asymmetry, Loss Aversion and Forecasting

Satchell, Stephen E.; Bond, Shaun A. - Econometric Society - 2004

Conditional volatility models, such as GARCH, have been used extensively in financial applications to capture predictable variation in the second moment of asset returns. However, with recent theoretical literature emphasising the loss averse nature of agents, this paper considers models which...

Persistent link: https://www.econbiz.de/10005130163

The role of permanent and transitory components in business cycle volatility moderation

Radchenko, Stan; Korenok, Oleg - Econometric Society - 2004

The paper examines the processes underlying economic fluctuations by investigating the volatility moderation of U.S. economy in the early 1980's. We decompose the volatility decline using a dynamic factor framework into a common stochastic trend, common transitory component and idiosyncratic...

Persistent link: https://www.econbiz.de/10005130191

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

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

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

Inference of Structural Econometric Models: A Unified Approach

Li, Tong - Econometric Society - 2004

of the timber sale auctions held in Oregon illustrate the usefulness and feasibility of our approach. …

Persistent link: https://www.econbiz.de/10005328964

Matching and Price Competition

Levin, Jonathan; Bulow, Jeremy - Econometric Society - 2004

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