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Signalling in Auctions : Experimental Evidence

Bos, Olivier - 2018

We study the relative performance of the first‐price sealed‐bid auction and the second-price sealed‐bid auction in a … reveals the winner’s payment to an outside observer. We find that the first‐price sealed‐bid auction in which the winner …

Persistent link: https://www.econbiz.de/10012908650

Curbing Price Fluctuations in Cap-and-Trade Auctions

Jeitschko, Thomas D.; Pal, Pallavi - 2021

fluctuations in prices. In this paper, we examine the dynamic auction design and propose a method to curb price volatility through …

Persistent link: https://www.econbiz.de/10013214329

The Legal and Economic Case for an Auction Reserve Price in the EU Emissions Trading System

Fischer, Carolyn - 2020

reserve price that would set a minimum price in allowance auctions. Opponents of an auction reserve price in the EU ETS have … expressed concern that a minimum auction price would interfere with economic operations in the market or would be tantamount to … and legal arguments for and against an auction reserve price. Our economic analysis concludes that an auction reserve …

Persistent link: https://www.econbiz.de/10012847075

Nonparametric Estimation of Sponsored Search Auctions and Impacts of Ad Quality on Search Revenue

Kim, Dongwoo; Pal, Pallavi - 2023

information’ assumption. The ad value is characterized by a tractable analytical solution given observed auction parameters. Using … Yahoo! search auction data, we estimate value distributions and study the bidding behavior across product categories. We …

Persistent link: https://www.econbiz.de/10014259686

Rotemberg and Imperfect Common Knowledge : A Solution Algorithm

Šauer, Radek - 2020

This paper develops an algorithm that enables to solve macroeconomic models with Rotemberg pricing and imperfect common knowledge. Under the concept of imperfect common knowledge, Rotemberg pricing requires the solution algorithm to take prices explicitly into account. The state space includes...

Persistent link: https://www.econbiz.de/10012841148

Uncertainty, Imperfect Information, and Expectation Formation Over the Firms's Life Cycle

Chen, Cheng - 2020

Using a long-panel dataset of Japanese firms that contains firm-level sales forecasts, we provide evidence on firm-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated forecast errors. However, they make more precise...

Persistent link: https://www.econbiz.de/10012826001

Does Tax Policy Work When Consumers Have Imperfect Price Information? Theory and Evidence

Montag, Felix; Sagimuldina, Alina; Schnitzer, Monika - 2021

We investigate how the pass-through rate of commodity taxes depends on competition in a setting where consumers have imperfect information about prices. We use a theoretical search model that has two key predictions: First, the larger the number of price sensitive consumers, the higher the...

Persistent link: https://www.econbiz.de/10013223660

Paying to Match : Decentralized Markets with Information Frictions

Agranov, Marina; Dianat, Ahrash; Samuelson, Larry; … - 2021

We experimentally study decentralized one-to-one matching markets with transfers. We vary the information available to participants, complete or incomplete, and the surplus structure, supermodular or submodular. Several insights emerge. First, while markets often culminate in efficient...

Persistent link: https://www.econbiz.de/10013250740

Insurance for Catastrophes - Indemnity vs. Parametric Insurance with Imperfect Information

Feess, Eberhard; Jordan, Cathrin; Noy, Ilan - 2022

Insurance for natural hazards - earthquakes, hurricanes, or pandemics - is rarely comprehensively adopted without intense government intervention, and even then it is often only a minority of properties or businesses that are insured. Efforts to close this insurance gap include the introduction...

Persistent link: https://www.econbiz.de/10013296268

Imperfect Signals

Graetz, Georg - 2023

A pre-condition for employer learning is that signals at labor market entry do not fully reveal graduates’ productivity. I model various distinct sources of signal imperfection—such as noise and multi-dimensional types—and characterize their implications for the private return to skill...

Persistent link: https://www.econbiz.de/10014357032

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