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Competing with Asking Prices
Lester, Benjamin; Visschers, Ludo; Wolthoff, Ronald P. - 2016
In many markets, sellers advertise their good with an asking price. This is a price at which the seller will take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller...
Persistent link: https://www.econbiz.de/10011522445
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Searching the Ebay Marketplace
Sailer, Katharina - 2021
from a sequence of eBay auctions. First the aspect of bidding in a marketplace environment is developed. From the simple … a reservation bid for low-price auctions. Extending results from the empirical auction literature and employing a …
Persistent link: https://www.econbiz.de/10013317322
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Revenues and Welfare in Auctions with Information Release
Schweizer, Nikolaus; Szech, Nora - 2015
Auctions are the allocation-mechanisms of choice whenever goods and information in markets are scarce. Therefore … comparative statics of welfare versus revenues for auctions with one or more objects and varying numbers of bidders. Depending on …
Persistent link: https://www.econbiz.de/10011388177
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The Quantitative View of Myerson Regularity
Schweizer, Nikolaus; Szech, Nora - 2016
In mechanism design, Myerson regularity is often too weak for a quantitative analysis of performance. For instance, ratios between revenue and welfare, or sales probabilities may vanish at the boundary of Myerson regularity. This paper therefore explores the quantitative version of Myerson...
Persistent link: https://www.econbiz.de/10011431257
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Strategic Leaks in First-Price Auctions and Tacit Collusion: The Case of Spying and Counter-Spying
Fan, Cuihong; Jun, Byoung Heon; Wolfstetter, Elmar G. - 2021
We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential bidding, complicated by the fact that the spy may be a counterspy who serves the interests of the spied at bidder and reports strategically distorted information. This ambiguity...
Persistent link: https://www.econbiz.de/10012582084
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Auctions vs. Negotiations: The Effects of Inefficient Renegotiation
Herweg, Fabian; Schmidt, Klaus - 2015
post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms … auctions if sellers are likely to have superior information about possible design improvements, if renegotiation is costly, and … incentives for sellers to investigate possible design improvements than auctions. This provides an explanation for the widespread …
Persistent link: https://www.econbiz.de/10010500427
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Searching the eBay marketplace
Sailer, Katharina - 2006
from a sequence of eBay auctions. First the aspect of bidding in a marketplace environment is developed. Form the simple … a reservation bid for low-price auctions. Extending results from the empirical auction literature and employing a …
Persistent link: https://www.econbiz.de/10010264018
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Volunteering and the strategic value of ignorance
Morath, Florian - 2011
Private provision of public goods often takes place as a war of attrition: individuals wait until someone else volunteers and provides the good. After a certain time period, however, one individual may be randomly selected. If the individuals are uncertain about their cost of provision, but can...
Persistent link: https://www.econbiz.de/10010274941
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Adaptive Social Learning
March, Christoph - 2016
The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly interact in social-learning settings with distinct information structures. In each round of interaction, they use their experience gained in past rounds to draw inferences from...
Persistent link: https://www.econbiz.de/10011451405
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Opinion Dynamics via Search Engines (and other Algorithmic Gatekeepers)
Germano, Fabrizio; Sobbrio, Francesco - 2017
Ranking algorithms are the information gatekeepers of the Internet era. We develop a stylized framework to study the effects of ranking algorithms on opinion dynamics. We consider rankings that depend on popularity and on personalization. We find that popularity driven rankings can enhance...
Persistent link: https://www.econbiz.de/10011698708