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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

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

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

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

Relinquishing Riches : Auctions vs Informal Negotiations in Texas Oil and Gas Leasing

Covert, Thomas - 2019

This paper compares outcomes from informally negotiated oil and gas leases to those awarded via centralized auction. We focus on Texas, where legislative decisions in the early twentieth century assigned thousands of proximate parcels to different mineral allocation mechanisms. We show that...

Persistent link: https://www.econbiz.de/10012889483

The Efficiency of Real-World Bargaining : Evidence from Wholesale Used-Auto Auctions

Larsen, Bradley - 2014

This study empirically quantifies the efficiency of a real-world bargaining game with two-sided incomplete information … bargaining performs in practice. Using about 265,000 sequences of a game of alternating-offer bargaining following an ascending … evaluates where realized bargaining outcomes lie relative to efficient outcomes. Results demonstrate that the ex-ante and ex …

Persistent link: https://www.econbiz.de/10013047786

Efficient design with interdependent valuations

Jehiel, Philippe; Moldovanu, Benny - In: Econometrica : journal of the Econometric Society, an … 69 (2001) 5, pp. 1237-1259

Persistent link: https://www.econbiz.de/10001612099

Empirical Models of Auctions

Athey, Susan; Haile, Philip A. - 2021

distributions governing bidder demand and information. An active literature has developed aiming to estimate these primitives by …

Persistent link: https://www.econbiz.de/10013246528

Convergence to efficiency in a simple market with incomplete information

Rustichini, Aldo - In: Econometrica : journal of the Econometric Society, an … 62 (1994) 5, pp. 1041-1063

Persistent link: https://www.econbiz.de/10001169157

Auctions Versus Negotiations in Procurement : An Empirical Analysis

Bajari, Patrick; McMillan, Robert Stanton; Tadelis, Steven - 2021

Should the buyer of a customized good use competitive bidding or negotiation to select a contractor? To shed light on this question, we offer a framework that compares auctions with negotiations. We then examine a comprehensive data set of private sector building contracts awarded in Northern...

Persistent link: https://www.econbiz.de/10013214580