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Procuring Commodities: Request for Quote or Reverse Auctions?

Shachat, Jason - Volkswirtschaftliche Fakultät, … - 2009

We examine the relative performances of reverse auctions and request for quotes in a simple commodity environment … auctions. With respect to the general investigation of auctions, the request for quote is the mirror image of a first price …

Persistent link: https://www.econbiz.de/10005835680

Auctioning with Aspirations: Keep Them Low (Enough)

Shunda, Nicholas - Volkswirtschaftliche Fakultät, … - 2009

In an auction with a buy price, a seller offers bidders the opportunity to forgo competing in an auction by transacting immediately at a pre-specified fixed price. If a seller has aspirations in the form of a reference price that depends upon the auction's reserve price and buy price, she does...

Persistent link: https://www.econbiz.de/10005079307

Tacit collusion and capacity withholding in repeated uniform price auctions

Dechenaux, Emmanuel; Kovenock, Dan - Volkswirtschaftliche Fakultät, … - 2007

This article analyzes tacit collusion in infinitely repeated multiunit uniform price auctions in a symmetric … set bids that are arbitrary finite step functions of price-quantity pairs, in repeated uniform price auctions maximal …

Persistent link: https://www.econbiz.de/10009650691

Auctions with Positive Synergies: Experimental Evidence

Chow, YuenLeng; Yavas, Abdullah - Volkswirtschaftliche Fakultät, … - 2008

In a standard auction, bidders bid more aggressively when the number of bidders increases. However, Krishna and Rosenthal (1996, Games and Economic Behavior) show that when bidders have multiple-unit demand that generates positive synergies, bidders bid less aggressively as the number of bidders...

Persistent link: https://www.econbiz.de/10005789669

The Value of Superstitions

Ng, Travis; Chong, Terence; Xin, Du - Volkswirtschaftliche Fakultät, … - 2009

This paper estimates the value of superstitions by studying the auctions of vehicle license plates. We show that the …

Persistent link: https://www.econbiz.de/10005836244

Selling a Cost Reducing Production Technique through Auction in a Duopolistic Industry

Chattopadhyay, Srobonti; Chatterjee, Rittwik - Volkswirtschaftliche Fakultät, … - 2013

This paper considers a two-stage game, where in the first stage, two firms bid non-cooperatively for a production technique that leads to a reduction in cost. Following the auction in the second stage of the game these firms compete against each other in a duopolistic industry. The amount of...

Persistent link: https://www.econbiz.de/10011109964

An experimental investigation of auctions and bargaining in procurement

Shachat, Jason; Tan, Lijia - Volkswirtschaftliche Fakultät, … - 2012

In reverse auctions, buyers often retain the right to bargain further concessions from the winner. The optimal form of … such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner …. We study behavior and performance in this procurement format using a laboratory experiment. Sellers closely follow the …

Persistent link: https://www.econbiz.de/10011112148