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A sealed-bid auction that matches the English auction

Perry, Motty; Wolfstetter, Elmar; Zamir, Shemuʾel - 1998

This paper analyzes a two-stage sealed-bid auction that is frequently employed in privatization, takeover, and merger and acquisition contests. This auction format yields the same expected revenue as the open ascending (English) auction, yet is less susceptible to preemptive bidding and...

Persistent link: https://www.econbiz.de/10009578005

Sticky information vs. sticky prices : a horse race in a DSGE framework

Trabandt, Mathias (contributor) - 2003 - [Elektronische Ressource], rev

Persistent link: https://www.econbiz.de/10001916974

An experimental test of direct and indirect reciprocity in case of complete and incomplete information

Dufwenberg, Martin; Genîzî, Ûrî; Güth, Werner; … - 2000

Direct reciprocity means to respond in kind to another person whereas indirect reciprocity is understood here as rewarding someone else. We perform corresponding experiments which use a similar underlying structure as the reciprocity experiment of Berg, Dickhaut, and McCabe (1995). Another...

Persistent link: https://www.econbiz.de/10009583886

Will banks promote trade? : equilibrium selection for the trust game with banks

Güth, Werner; Ockenfels, Peter - 1998 - Rev.

according to which banks are not used at all. By applying the theory of equilibrium selection it is analysed which of the two …

Persistent link: https://www.econbiz.de/10009578562

The influence of inventory effects and reference points on the rate of consumption

Bell, David R.; Boztuğ, Yasemin - 2001 - Rev.

The authors develop and test a model to study the influence of inventory-on-hand and price-based reference points on … positive and negative deviations from category price expectations. The model is estimated on eleven product categories. The …

Persistent link: https://www.econbiz.de/10009615422

Price variability and price dispersion in a stable monetary environment : evidence from German retail markets

Fengler, Matthias R.; Winter, Joachim - 2000

We investigate the relationship between inflation and price variation using highly disaggregated, weekly price data for … rates of price change and price dispersion, both at the level of individual products and product groups. However, we find no … correlation between the rates of price change and price variability. Together with results from similar studies, Tommasi (1993 …

Persistent link: https://www.econbiz.de/10009612033

Quantile hedging

Föllmer, Hans; Leukert, Peter - 1998

In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...

Persistent link: https://www.econbiz.de/10009574876

On model based seasonal adjustment procedures

Breitung, Jörg - 1998

In this note the unobserved component approach underlying the software package SEATS is compared with the Beveridge-Nelson type of decomposition for seasonal time series. The main strength of the SEATS approach lies in the appealing model formulation and the careful specification and adjustment...

Persistent link: https://www.econbiz.de/10009574877

The monetary model of the exchange rate : a structural interpretation

Moersch, Mathias; Nautz, Dieter - 1998

We emphasize the importance of properly identifying the long-run relations underlying the monetary model of the exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows an interpretation of the various channels affecting the...

Persistent link: https://www.econbiz.de/10009574885

Sequential versus independent commitment : an indirect evolutionary analysis of bargaining rules

Güth, Werner - 1998 - Rev.

Rational bargaining behavior depends crucially on the rules of bargaining, especially on whether parties decide sequentially or independently. Whereas in ultimatum bargaining the proposer can exploit the responder, independent commitments result in more balanced payoffs. To limit the scope of...

Persistent link: https://www.econbiz.de/10009574886

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