Showing 1 - 10 of 237
This paper reports a new and significant experimental demonstration that market participants adjust their bids towards the price observed in previous market periods when - by design - individuals' values should not be affiliated with the market price. This demonstration implies that market...
Persistent link: https://www.econbiz.de/10003769896
reverse auction. Shares are allocated endogenously, depending on the suppliers ́bids. The procedure obtains dual sourcing by … than a standard auction for sole sourcing. We also show that providers reveal their costs truthfully and that the …
Persistent link: https://www.econbiz.de/10011448760
; and rst-price, second-price, and all-pay auctions. Second, we establish revenue equivalence of these auction mechanisms in … auctions. Finally, we identify an optimal mechanism and its implementation by means of reserve prices in lottery and auction …
Persistent link: https://www.econbiz.de/10010360354
that the standard allocation rule is particularly vulnerable to collusive equilibria. -- experiment ; uniform price auction … ; multi-unit auction ; divisible-good auction ; allocation rule ; communication …
Persistent link: https://www.econbiz.de/10003898823
results have important implications for the design of IPO auctions. -- IPO ; uniform price auction ; divisible goods ; share …
Persistent link: https://www.econbiz.de/10003321810
We study the effects of affirmative action through endogenous set-asides. We propose a share auction for dual sourcing … first-price auction. We also show that our main result is robust to variations of our benchmark model, including the …
Persistent link: https://www.econbiz.de/10012161704
The unravelling prediction of disclosure theory relies on the idea that strategic forces lead firms (information senders) to voluntarily disclose information about the quality of their products provided the information disclosed is verifiable and the costs of disclosure are negligible. This...
Persistent link: https://www.econbiz.de/10012131654
This paper examines determinants of revolutionary behaviour. We study the role of freedom of communication, repression of opposition and the government’s selfishness. Combining econometric analysis of survey data with a laboratory experiment, we analyse how these factors affect preferences for...
Persistent link: https://www.econbiz.de/10002570041
With the disintegration of the USSR a conflict arose between Kyrgyzstan, Uzbekistan and Kazakhstan over the Syr Darya river. Upstream Kyrgyzstan operates the Toktogul reservoir which generates hydropower demanded mainly in winter for heating. Downstream Uzbekistan and Kazakhstan need irrigation...
Persistent link: https://www.econbiz.de/10003048863
Using a laboratory experiment, we study the evolution of economic networks in the context of fragmented social identity. We create societies in which members can initiate and delete links to others, and then earn payoffs from a public goods game played within their network. We manipulate whether...
Persistent link: https://www.econbiz.de/10015135240