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In many auctions, the auctioneer is an agent of the seller. This delegation invites corruption. In this paper we … bidding, and how it altogether changes the revenue ranking of typical auctions. In addition we characterize incentive schemes …
Persistent link: https://www.econbiz.de/10011397659
market conditions, and provides a theoretical explanation of low price equilibria in simultaneous, ascending-bid auctions …
Persistent link: https://www.econbiz.de/10011399147
introduced in England and adopted in Switzerland and elsewhere is a cause of the disappointing performance of many UMTS auctions … revenue or more competition. The paper closes with several proposals on how one should conduct future spectrum auctions. …
Persistent link: https://www.econbiz.de/10011399586
competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and …
Persistent link: https://www.econbiz.de/10011400807
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/10010519950
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/10011416003
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/10011334234
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/10009765519
We study decision making processes with non-standard all-pay structures. We motivate this interest through a group of regulatory, political, legal, military, and economic applications where individual actions determine the consequences for a larger group or the public. The common features of...
Persistent link: https://www.econbiz.de/10009766675
I extend multi-unit auction estimation techniques to a setting in which firms can express cost complementarities over time. In the context of electricity markets, I show how the auction structure and bidding data can be used to estimate these complementarities, which in these markets arise due...
Persistent link: https://www.econbiz.de/10010356362