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An Externality-Robust Auction : Theory and Experimental Evidence
Bartling, Björn - 2014
An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected. The equilibrium and its outcome will then persist if certain types of externalities arise between bidders. One example are externalities due to spiteful preferences, which have...
Persistent link: https://www.econbiz.de/10013054012
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Designing Contests between Heterogeneous Contestants : An Experimental Study of Tie-Breaks and Bid-Caps in All-Pay Auctions
Llorente-Saguer, Aniol - 2016
in an experiment. Our data show that indeed, strengthening weaker contestants through tie-breaks and bid …
Persistent link: https://www.econbiz.de/10012986649
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Can There Be a Market for Cheap-Talk Information? An Experimental Investigation
Cabrales, Antonio - 2018
This paper reports on experiments testing the viability of markets for cheap talk information. We find that the poor quality of the information transmitted leads to a collapse of information markets. The reasons for this are surprising given the previous experimental results on cheap-talk games....
Persistent link: https://www.econbiz.de/10012917514
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The Chopstick Auction : A Study of the Exposure Problem in Multi-Unit Auctions
Englmaier, Florian; Guillen, Pablo; Llorente, Loreto; … - 2021
laboratory experiment. In theory, the chopstick auction has an efficient equilibrium and is revenue equivalent with the second … called the 'chopstick auction' in which bidders are confronted with the exposure problem. We do so both in theory and in a …-price sealed-bid auction in which the exposure problem is not present. In the experiment, however, we find that the 'chopstick …
Persistent link: https://www.econbiz.de/10013317485
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A Unified Framework for Using Micro-Data to Compare Dynamic Wage and Price Setting Models
Dixon, Huw David - 2021
This paper develops a statistical framework of steady-state identities which enable us to match the distributions of durations found in the micro-data to generalized Taylor and Calvo models of time-dependent pricing. We illustrate the approach with the UK micro CPI data for 2006-2009, and employ...
Persistent link: https://www.econbiz.de/10013316198
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Tax Rate Harmonization, Renegotiation and Asymmetric Tax Competition for Profits with Repeated Interaction
Eggert, Wolfgang - 2011
This paper analyzes a model of corporate tax competition with repeated interaction and with strategic use of profit shifting within multinationals. We show that international tax coordination is more likely to prevail if the degree of asymmetry in terms of productivity differences between...
Persistent link: https://www.econbiz.de/10013125360
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A Nested Contest : Tullock Meets the All-Pay Auction
Amegashie, J. Atsu - 2012
I present a two-player nested contest which is a convex combination of two widely studied contests: the Tullock (lottery) contest and the all-pay auction. A Nash equilibrium exists for all parameters of the nested contest. If and only if the contest is sufficiently asymmetric, then there is an...
Persistent link: https://www.econbiz.de/10013098647
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Extremism Drives Out Moderation
Klose, Bettina S. - 2012
This article investigates the impact of the distribution of preferences on equilibrium behavior in conflicts that are modeled as all-pay auctions with identity-dependent externalities. In this context, we define centrists and radicals using a willingness-to-pay criterion that admits preferences...
Persistent link: https://www.econbiz.de/10013106913
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Auctions vs. Negotiations : The Case of Favoritism
Gretschko, Vitali - 2013
We compare two commonly used mechanisms in procurement: auctions and negotiations. The execution of the procurement mechanism is delegated to an agent of the buyer. The agent has private information about the buyer's preferences and may collude with one of the sellers. We provide a precise...
Persistent link: https://www.econbiz.de/10013089156
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Optimal Favoritism in All-Pay Auctions and Lottery Contests
Franke, Jörg - 2017
We analyze the revenue-enhancing potential of favoring specific contestants in complete information all-pay auctions and lottery contests with several heterogeneous contestants. Two instruments of favoritism are considered: head starts that are added to the bids of specific contestants and...
Persistent link: https://www.econbiz.de/10012963772