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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-patterns of reserve price formation. We find that chosen reserve prices exhibit both, very sophisticated and 'irrational' behavior by the sellers. Reserve prices pick up the...
Persistent link: https://www.econbiz.de/10013316493
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The Dynamic Interplay of Inequality and Trust - An Experimental Study
Greiner, Ben - 2008
We study the interplay of inequality and trust in a dynamic game, in which trust increases efficiency and thus allows higher growth of the experimental economy in the future. We find that trust is initially high in a treatment starting with equal endowments, but decreases over time. In a...
Persistent link: https://www.econbiz.de/10012773325
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A Large-Market Rational Expectations Equilibrium Model
Vives, Xavier - 2021
This paper presents a market with asymmetric information where a privately revealing equilibrium obtains in a competitive framework and where incentives to acquire information are preserved. The equilibrium is efficient, and the paradoxes associated with fully revealing rational expectations...
Persistent link: https://www.econbiz.de/10013316011
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Asset Auctions, Information, and Liquidity
Vives, Xavier - 2021
A model is presented of a uniform price auction where bidders compete in demand schedules; the model allows for common … help explain the response of central banks to the crisis, and suggest potential improvements in the auction formats of …
Persistent link: https://www.econbiz.de/10013316270
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Auctions vs. Negotiations : The Case of Favoritism
Gretschko, Vitali - 2013
– that an intransparent negotiation yields a higher buyer surplus than a transparent auction for a range of parameters. In …
Persistent link: https://www.econbiz.de/10013089156
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Charity Auctions for the Happy Few
Bos, Olivier - 2008
different distributions. Furthermore, we also analyze second-price all-pay auction. Finally, we show that individual minimum … bids could improve the relative revenue performance of first-price all-pay compared to first-price winner-pay auction …
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 … externalities due to spiteful preferences, which have been used to explain overbidding in the second-price auction (SPA). Another … example are cross-shareholdings between companies that compete in an auction. We derive an auction that coincides with the SPA …
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
deeper and more accurately these two findings by taking Italy as a case study. Our results question the so-called auction …
Persistent link: https://www.econbiz.de/10013021758
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Optimal Cost Overruns : Procurement Auctions and Renegotiation
Herweg, Fabian - 2016
a simple design initially enhances competition in the auction. Moreover, the procurer cannot benefit from using a multi …-dimensional auction, as the optimal scoring rule depends only on the price …
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
The objective of this paper is to assess whether external debt makes a difference for public debt stabilization, where external debt is considered through the non-residents' holdings according to a Balance of Payments perspective. The analysis is empirical and considers the case of Italy, one of...
Persistent link: https://www.econbiz.de/10013044665