Showing 1 - 10 of 175
monotonicity in auctions with differering number of bidders, reserve prices, and auction-specific characteristics. Finite sample …
Persistent link: https://www.econbiz.de/10009025229
Bidders' risk attitudes have key implications for choices of revenue-maximizing auction formats. In ascending auctions … transaction prices and participation decisions in ascending auctions with entry costs. Nonparametric tests are proposed for two … of risk attitudes in a more general model of ascending auctions with selective entry, where bidders receive entry …
Persistent link: https://www.econbiz.de/10011272301
Regulating bidder participation in auctions can potentially increase efficiency compared to standard auction formats … first-price auctions with free entry for bridge-building contracts in Oklahoma and Texas and predict that an entry rights …
Persistent link: https://www.econbiz.de/10010821738
We describe factors that make bidding in large spectrum auctions complex -- including exposure and budget problems, the …
Persistent link: https://www.econbiz.de/10005720198
of position auctions are analyzed. Implications for reserve prices and a number of other auction design questions are …
Persistent link: https://www.econbiz.de/10004976949
potential bidders and the auctioneer. Absent corruption, theory suggests that two stage auctions would most likely maximize … selection on property unobservables into such auctions. However, if such auctions are more corruptible, that could involve …, sales prices are lower for two stage auctions, and there is strong evidence of positive selection. The price difference is …
Persistent link: https://www.econbiz.de/10004980319
A common complaint about online auctions for consumer goods is the presence of "snipers," who place bids in the final … seconds of sequential ascending auctions with predetermined ending times. The literature conjectures that snipers are best … effect of this experience on a new buyer's propensity to participate in future auctions. We show the effect to be causal …
Persistent link: https://www.econbiz.de/10011165137
. Much less work has considered the importance of the auction process. For example, in many auctions, auctioneers are present …. We analyze more than 850,000 wholesale used car auctions and find large and significant differences in outcomes …
Persistent link: https://www.econbiz.de/10010821660
Increasingly detailed consumer information makes sophisticated price discrimination possible. At fine levels of aggregation, demand may not obey standard regularity conditions. We propose a new randomized sales mechanism for such environments. Bidders can "buy-it-now" at a posted price, or...
Persistent link: https://www.econbiz.de/10010821708
Consumer auctions were very popular in the early days of internet commerce, but today online sellers mostly use posted … account for this evolution. Instead, the returns to sellers using auctions have diminished. We develop a model to distinguish … two hypotheses: a shift in buyer demand away from auctions, and general narrowing of seller margins that favors posted …
Persistent link: https://www.econbiz.de/10010796544