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Risk, reward and uncertainty in buyer-seller transactions : the seller's view on combining posted prices and auctions
Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2023
In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …
Persistent link: https://www.econbiz.de/10014477420
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Bayesian implementation and rent extraction in a multi-dimensional procurement problem
Herweg, Fabian; Schmidt, Klaus M. - 2018
We consider a multi-dimensional procurement problem in which sellers have private information about their costs and about a possible design flaw. The information about the design flaw is necessarily correlated. We solve for the optimal Bayesian procurement mechanism that implements the efficient...
Persistent link: https://www.econbiz.de/10011976063
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Pure information design in classic auctions
Sorokin, Constantine; Winter, Eyal - 2021
Persistent link: https://www.econbiz.de/10013364413
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Mechanism design for unequal societies
Groh, Carl-Christian; Reuter, Marco - 2023
unallocated. We also highlight how our mechanism can be implemented as an auction with minimum bids and bidding subsidies. …
Persistent link: https://www.econbiz.de/10014438989
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A small volume reduction that melts down the market : auctions with endogenous rationing
Ehrhart, Karl-Martin; Hanke, Ann-Katrin; Ott, Marion - 2020
Auctions with endogenous rationing have been introduced to stimulate competition. Such (procurement) auctions reduce the volume put out to tender when competition is low. This paper finds a strong negative effect of endogenous rationing on participation when bid-preparation is costly,...
Persistent link: https://www.econbiz.de/10012195628
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Cross-game learning and cognitive ability in auctions
Giebe, Thomas; Ivanova-Stenzel, Radosveta; Kocher, Martin; … - 2022
cognitive skills. Employing an order-balanced design, we use first-price auctions (FPAs) to expose participants to an auction …
Persistent link: https://www.econbiz.de/10014476711
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Anchored strategic reasoning
Ivanova-Stenzel, Radosveta; Seres, Gyula - 2022
Anchoring is a robust behavioral phenomenon modeled predominantly as a bias in individual judgment. We propose a game-theoretic model that considers players’ beliefs about others’ behavior as a mediator for the effect of the anchor on a player’s choice. The results establish that anchoring...
Persistent link: https://www.econbiz.de/10013191577
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How do sellers benefit from buy-it-now prices in Ebay auctions? : an experimental investigation
Grebe, Tim; Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2018
auction. We analyse experimentally how eBay sellers set BIN prices and whether they benefit from offering them. Using the real … eBay environment in the laboratory, we find that the eBay auction format supports deviations from truthful bidding leading … to auction prices substantially below those expected in second-price auctions. Our results reveal that the observed price …
Persistent link: https://www.econbiz.de/10011902715
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Ex-post optimal knapsack procurement
Jarman, Felix; Meisner, Vincent - 2017
settings in which the class of optimal mechanisms has a deferred acceptance auction representation which allows an … implementation with a descending-clock auction. Only in the case of symmetric projects do price clocks descend synchronously such …
Persistent link: https://www.econbiz.de/10011697176
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Procurement design with loss averse bidders
Fugger, Nicolas; Gillen, Philippe; Riehm, Tobias - 2019
compared to any single-stage auction. Finally we derive the optimal efficient two-stage mechanism. …
Persistent link: https://www.econbiz.de/10012146346