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Endogenous competition alters the structure of optimal auctions
Harstad, Ronald M. - 2011 - Rev. version
endogenous decisions whether to incur an information-acquisition cost (and observe a private estimate), or forgo competing … rules and information flows are quite general; participation decisions may be simultaneous or sequential. The resulting …
Persistent link: https://www.econbiz.de/10009271960
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Auctions with endogenous price ceiling : theoretical and experimental results
Veszteg, Robert F.; Akai, Kenju; Saijō, Tatsuyoshi; … - 2009
This paper analyzes an auction mechanism that excludes overoptimistic bidders inspired by the rules of the procurement auctions adopted by several Japanese local governments. Our theoretical and experimental results suggest that the endogenous exclusion rule reduces the probability of suffering...
Persistent link: https://www.econbiz.de/10003921779
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Auctions vs. Negotiations
Bulow, Jeremy; Klemperer, Paul - 2021
Which is the more profitable way to sell a company: a public auction or an optimally structured negotiation with a smaller number of bidders? We show that under standard assumptions the public auction is always preferable, even if it forfeits all the seller's negotiating power, including the...
Persistent link: https://www.econbiz.de/10013248693
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Persuading with Anecdotes
Haghtalab, Nika; Immorlica, Nicole; Lucier, Brendan; … - 2022
loss for both sides. One implication is informational homophily: a receiver can rationally prefer to obtain information …
Persistent link: https://www.econbiz.de/10014243362
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Choice Screen Auctions
Ostrovsky, Michael - 2022
Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their preferred search engine on Google's Android platform instead of being automatically defaulted to Google's own search engine. I show that a seemingly minor detail in the design of these...
Persistent link: https://www.econbiz.de/10014090768
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Signal qualities, order of decisions, and informational cascades : experimental evidences
Sasaki, Shunichiro (contributor) - 2004 - [Elektronische Ressource]
This paper reports the results of informational cascades experiments where two different decision-making systems, anti-seniority and seniority are investigated. By implementing heterogeneous signal qualities associated with the fixed order of decisions I compare the property of each system and...
Persistent link: https://www.econbiz.de/10002428105
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A Bayesian incentive compatible mechanism for fair division
Fujinaka, Yuji - 2008
We consider the problem of fairly allocating one indivisible object when monetary transfers are possible, and examine the existence of Bayesian incentive compatible mechanisms to solve the problem. We propose a mechanism that satisfies envy-freeness, budget balancedness, and Bayesian incentive...
Persistent link: https://www.econbiz.de/10003819939
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Information feedback in a dynamic tournament
Aoyagi, Masaki (contributor) - 2003 - [Elektronische Ressource]
This paper studies the problem of information revelation in a multi-stage tournament where the agents’ effort in each …’ effort incentive through the use of a feedback policy, which transforms his private information into a public announcement … should use the no-feedback policy that reveals no information, or the full-feedback policy that reveals all his information …
Persistent link: https://www.econbiz.de/10001763125
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Efficient collusion in repeated auctions with communication
Aoyagi, Masaki (contributor) - 2002 - [Elektronische Ressource]
This paper studies collusion in repeated auctions when bidders communicate prior to each stage auction. The paper presents a folk theorem for independent and correlated private signals and general interdependent values. Specifically, it identifies conditions under which an equilibrium collusion...
Persistent link: https://www.econbiz.de/10001674856
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Dynamic matching, two-sided incomplete information and participation costs : existence and convergence to perfect competition
Satterthwaite, Mark; Shneyerov, Artyom - In: Econometrica : journal of the Econometric Society, an … 75 (2007) 1, pp. 155-200
Persistent link: https://www.econbiz.de/10003410474