Showing 1 - 10 of 119
This paper studies federal auctions for wildcat leases on the Outer Continental Shelf from 1954 to 1970. These are leases where bidders privately acquire (at some cost) noisy, but equally informative, signals about the amount of oil and gas that may be present. We develop a test of equilibrium...
Persistent link: https://www.econbiz.de/10012470430
passed without a bid. The strategic differences in the auction rules are reflected in the auction data by significantly more … about ending the auction playing an important role …
Persistent link: https://www.econbiz.de/10012471021
timber auctions, the Forest Service publicly announces its estimates of the tract characteristics before the auction, and …
Persistent link: https://www.econbiz.de/10012471603
This paper considers the bidding behavior of participants in the daily auction to supply electricity in England and …
Persistent link: https://www.econbiz.de/10012472543
Which is the more profitable way to sell a company: a public auction or an optimally structured negotiation with a … smaller number of bidders? We show that under standard assumptions the public auction is always preferable, even if it … at least one extra bidder. An immediate public auction also dominates negotiating while maintaining the right to hold an …
Persistent link: https://www.econbiz.de/10012474326
This paper reports on the results of an auction sale of 83 condominium apartment units in New Jersey. At the auction … fetched at auction and the discount was largest for those units hammered down early in the auction. These results are … auction may have been the subject of a "winner's curse" which generated considerable profit for the seller …
Persistent link: https://www.econbiz.de/10012474944
bid on most jobs. The apparent role of ring meetings prior to the auction was to designate a serious bidder, and its bid …
Persistent link: https://www.econbiz.de/10012474967
With imperfectly competitive product markets, producers react to the auction of quota licenses by adjusting price …
Persistent link: https://www.econbiz.de/10012475807
I show that frequent batch auctions for stocks have the potential to reduce the severity of stock price crashes when they occur. For a given sequence of orders from a continuous electronic limit order book market, matching orders using one second apart batch auctions results in nearly the same...
Persistent link: https://www.econbiz.de/10012480285
"per install" basis--plays a major role in the mix and characteristics of auction winners, and, consequently, in their … number of such users. The distortion becomes worse as the auction gets more competitive and the number of bidders increases …
Persistent link: https://www.econbiz.de/10012482310