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Competition and Cooperation in Divisible Good Auctions: An Experimental Examination

Sade, Orly; Schnitzlein, Charles; Zender, Jaime F. - Fondazione ENI Enrico Mattei (FEEM) - 2004

discriminatory auction is found to be more susceptible to collusion than are the uniform-price auctions, and so contrary to …

Persistent link: https://www.econbiz.de/10005423057

Incorporating Fairness Motives into the Impulse Balance Equilibrium and Quantal Response Equilibrium Concepts: An Application to 2x2 Games

Tavoni, Alessandro - Fondazione ENI Enrico Mattei (FEEM) - 2009

Substantial evidence has accumulated in recent empirical works on the limited ability of the Nash equilibrium to rationalize observed behavior in many classes of games played by experimental subjects. This realization has led to several attempts aimed at finding tractable equilibrium concepts...

Persistent link: https://www.econbiz.de/10005008036

Identity and Self-Other Differentiation in Work and Giving Behaviors: Experimental Evidence

Ben-Ner, Avner; McCall, Brian P.; Stephane, Massoud; … - Fondazione ENI Enrico Mattei (FEEM) - 2006

We show that the distinction between Self and Other, ‘us’ and ‘them,’ or in-group and out-group, affects significantly economic and social behavior. In a series of experiments with approximately 200 Midwestern students as our subjects, we found that they favor those who are similar to...

Persistent link: https://www.econbiz.de/10005423088

Fixed Instruments to Cope with Stock Externalities An Experimental Evaluation

Giordana, Gastón; Willinger, Marc - Fondazione ENI Enrico Mattei (FEEM) - 2007

We evaluate the effectiveness of non optimal and temporally inconsistent incentive policies for regulating the exploitation of a renewable common-pool resource. The corresponding game is an N-person discrete-time deterministic dynamic game of T periods fixed duration. Three policy instruments...

Persistent link: https://www.econbiz.de/10005230898

Auctions with Financial Externalities

Maasland, Emiel; Onderstal, Sander - Fondazione ENI Enrico Mattei (FEEM) - 2003

We study sealed-bid auctions with financial externalities, i.e., auctions in which losers’ utilities depend on how much …

Persistent link: https://www.econbiz.de/10005385448

Optimal Procurement Auction for a Buyer with Downward Sloping Demand: More Simple Economics

Burguet, Roberto - Fondazione ENI Enrico Mattei (FEEM) - 2004

A buyer with downward slopping demand faces a number of unit supply sellers. The paper characterizes optimal auctions …

Persistent link: https://www.econbiz.de/10005385465

Auctioning vs. Grandfathering in Cap-and-Trade Systems with Market Power and Incomplete Information

Alvarez, Francisco; André, Francisco J. - Fondazione ENI Enrico Mattei (FEEM) - 2013

We compare auctioning and grandfathering as allocation mechanisms of emission permits when there is a secondary market with market power and the firms have private information. Based on real-life cases such as the EU ETS, we consider a multi-unit, multi-bid uniform auction, modelled as a...

Persistent link: https://www.econbiz.de/10010833916

Auctioning Monopoly Franchises: Award Criteria and Service Launch Requirements

Moretto, Michele; Dosi, Cesare - Fondazione ENI Enrico Mattei (FEEM) - 2009

We study the competition to acquire the exclusive right to operate an infrastructure service, by comparing two different specifications for the financial proposals - "lowest price to consumers" vs "highest concession fee", and two alternative contractual arrangements: a contract which imposes...

Persistent link: https://www.econbiz.de/10005012139

Comparing Open and Sealed Bid Auctions: Theory and Evidence from Timber Auctions

Levin, Jonathan; Athey, Susan; Seira, Enrique - Fondazione ENI Enrico Mattei (FEEM) - 2004

We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U ….S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … extends the theory of private value auctions with heterogeneous bidders to capture participation decisions, that can account …

Persistent link: https://www.econbiz.de/10005423075

Concession Bidding Rules and Investment Time Flexibility

Moretto, Michele; Dosi, Cesare - Fondazione ENI Enrico Mattei (FEEM) - 2007

We study the competition to operate an infrastructure service by developing a model where firms report a two-dimensional sealed bid: the price to consumers and the concession fee paid to the government. Two alternative bidding rules are considered in this paper. One rule consists of awarding the...

Persistent link: https://www.econbiz.de/10005423112