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A dynamic auction for multi-object procurement under a hard budget constraint
Ensthaler, Ludwig; Giebe, Thomas - Volkswirtschaftliche Fakultät, … - 2010
We present a new dynamic auction for procurement problems where payments are bounded by a hard budget constraint and …
Persistent link: https://www.econbiz.de/10008543763
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Subsidies, Knapsack Auctions and Dantzig’s Greedy Heuristic
Ensthaler, Ludwig; Giebe, Thomas - Volkswirtschaftliche Fakultät, … - 2009
A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by quality and …
Persistent link: https://www.econbiz.de/10005785851
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Security bid auctions for agency contracts
Jun, Byoung Heon; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2012
A principal uses security bid auctions to award an incentive contract to one among several agents, in the presence of … outperform all other auctions, although it cannot extract the entire surplus implement efficient effort. Hence, profit sharing …
Persistent link: https://www.econbiz.de/10010556730
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Auctions with imperfect commitment when the reserve may signal the auctioneer's type
Jun, Byoung Heon; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2013
If bidders are uncertain whether the auctioneer sticks to the announced reserve, some bidders respond by not bidding, speculating that the auctioneer may revoke the reserve. However, the reserve inadvertently signals the auctioneer's type, which drives a unique separating and a multitude of...
Persistent link: https://www.econbiz.de/10010668400
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License Auctions with Royalty Contracts for Losers
Giebe, Thomas; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2006
licensing without reducing bidders’ surplus; therefore, it is more profitable than both standard license auctions and pure …
Persistent link: https://www.econbiz.de/10005785795
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License auctions with exit (and entry) options: Alternative remedies for the exposure problem
Hu, Luke; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2012
Inspired by some spectrum auctions, we consider a stylized license auction with incumbents and one entrant. Whereas the …
Persistent link: https://www.econbiz.de/10010602240
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Optimal bid disclosure in license auctions with downstream interaction
Fan, Cuihong; Jun, Byoung Heon; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2014
The literature on license auctions for process innovations in oligopoly assumed that the auctioneer reveals the winning …, partial, and no disclosure of bids, which correspond to standard auctions. We show that more information disclosure increases …
Persistent link: https://www.econbiz.de/10011140993
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Procurement with Costly Bidding, Optimal Shortlisting, and Rebates
Fan, Cuihong; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2006
We consider the procurement of a complex, indivisible good when bid preparation is costly, assuming a population of …
Persistent link: https://www.econbiz.de/10005739676
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The Value of Commitment in Auctions with Matching
Lamping, Jennifer - Volkswirtschaftliche Fakultät, … - 2008
In many auctions, a good match between the bidder and seller raises the value of the contract for both parties although …
Persistent link: https://www.econbiz.de/10008490104
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On Seller Estimates and Buyer Returns
Gershkov, Alex; Toxvaerd, Flavio - Volkswirtschaftliche Fakultät, … - 2006
This paper revisits recent empirical research on buyer credulity in arts auctions and auctions for assets in general …
Persistent link: https://www.econbiz.de/10005785937