Showing 1 - 10 of 51
asymmetric, multi-object, all-pay auction framework in Bodoh-Creed and Hickman (2014). We pay 5th through 8th grade students …
Persistent link: https://www.econbiz.de/10010890092
The combinatorial clock auction is becoming increasingly popular for large-scale spectrum awards and other uses …, replacing more traditional ascending or clock auctions. We describe some surprising properties of the auction, including a wide … the auction separates allocation and pricing, so that bidders are asked to make decisions that cannot possibly affect …
Persistent link: https://www.econbiz.de/10010950813
We measure the pass-through of emissions costs to electricity prices and explore its determinants. We perform both reduced-form and structural estimations based on optimal bidding in this market. Using rich micro-level data, we estimate the channels affecting pass-through in a flexible manner,...
Persistent link: https://www.econbiz.de/10010950912
We introduce a simple and robust approach to answering two key questions in empirical auction analysis: discriminating … between models of entry and quantifying the revenue gains from improving auction design. The approach builds on Bulow and … and auction formats without requiring instruments or estimation of a complex structural model. We demonstrate the approach …
Persistent link: https://www.econbiz.de/10010951042
-auto auctions, an $80 billion industry where buyers and sellers participate in alternating-offer bargaining when the auction price … fails to reach a secret reserve price. Using 270,000 auction/bargaining sequences, this study nonparametrically estimates …
Persistent link: https://www.econbiz.de/10010951057
This paper studies the welfare consequence of increasing trading speed in financial markets. We build and solve a dynamic trading model, in which traders receive private information of asset value over time and trade strategically with demand schedules in a sequence of double auctions. A...
Persistent link: https://www.econbiz.de/10010951139
Aggregate art price patterns mask a lot of underlying variation--both in the time series and in the cross- section. We argue that, to increase our understanding of the market for aesthetics, it is helpful to take a micro perspective on the formation of art prices, and acknowledge that each...
Persistent link: https://www.econbiz.de/10010951308
Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the wholesale market price. The Smart Grid is a set of emerging technologies that, among other effects, will facilitate "real-time pricing" for electricity and increase price...
Persistent link: https://www.econbiz.de/10011271447
Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … entry costs but contains exogenous variations of potential competition and auction characteristics. In the first scenario … equilibrium entry probabilities vary with observed auction characteristics and potential competition. We also show identification …
Persistent link: https://www.econbiz.de/10011272301
data. Moreover, numerous innovations in auction-design features on platforms such as eBay have created excellent research …-now options) in online auctions, as well as some of the literature dealing with online-auction design (including stopping rules …
Persistent link: https://www.econbiz.de/10005248765