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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 …
Persistent link: https://www.econbiz.de/10013089156
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Charity Auctions for the Happy Few
Bos, Olivier - 2008
Recent literature has shown that all-pay auctions raise more money for charity than winner-pay auctions. We demonstrate … that the first and second-price winner-pay auctions generate higher revenue than first-price all-pay auctions when bidders …
Persistent link: https://www.econbiz.de/10012770254
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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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Treasury Auctions and Secondary Market Dynamics. An Analysis Based on the MTS Market for Italy
Cafiso, Gianluca - 2015
Auctions of government bonds are the main allotment method used by the Treasury of advanced economies. Previous … research has found that auctions have an influence on the market yield days before they take place, and underpricing is usually …
Persistent link: https://www.econbiz.de/10013021758
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Optimal Cost Overruns : Procurement Auctions and Renegotiation
Herweg, Fabian - 2016
Cost overrun is ubiquitous in public procurement. We argue that this can be the result of a constraint optimal award procedure when the procurer cannot commit not to renegotiate. If cost differences are more pronounced for more complex designs, it is optimal to fix a simple design ex ante and to...
Persistent link: https://www.econbiz.de/10012993698
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Debt Sustainability in the Case of External Debt. An Analysis Based on Italy's Treasury Auctions
Cafiso, Gianluca - 2014
interest rate resulting from the auctions of government bonds to account for the effective cost borne by the Treasury. Our …
Persistent link: https://www.econbiz.de/10013044665
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Probabilistic Procurement Auctions
Giebe, Thomas - 2013
We analyse procurement auctions in which sellers are distinguished on the basis of the ratios of quality per unit of …
Persistent link: https://www.econbiz.de/10013078958
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Reserve Price Formation in Online Auctions
Englmaier, Florian; Arno, Schmoeller - 2021
We use a unique hand collected data set of 6 258 auctions from the online football manager game Hattrick to study micro …
Persistent link: https://www.econbiz.de/10013316493
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Innovation Contests
Pérez-Castrillo, David; Wettstein, David - CESifo - 2014
We study innovation contests with asymmetric information and identical contestants, where contestants’ efforts and innate abilities generate inventions of varying qualities. The designer offers a reward to the contestant achieving the highest quality and receives the revenue generated by the...
Persistent link: https://www.econbiz.de/10010877748
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Auctions vs. Negotiations: The Effects of Inefficient Renegotiation
Herweg, Fabian; Schmidt, Klaus - CESifo - 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/10011210403