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Optimal Multi-Object Auctions with Risk Averse Buyers

Kumru, Cagri; Yektas, Hadi - Volkswirtschaftliche Fakultät, … - 2008

We analyze the optimal auction of multiple non-identical objects when buyers are risk averse. We show that the auction formats that yield the maximum revenue in the risk neutral case are no longer optimal. In particular, selling the goods independently does not maximize the seller's revenue. We...

Persistent link: https://www.econbiz.de/10005836179

Auctions with Dynamic Populations: Efficiency and Revenue Maximization

Said, Maher - Volkswirtschaftliche Fakultät, … - 2008

We examine an environment where goods and privately informed buyers arrive stochastically to a market. A seller in this setting faces a sequential allocation problem with a changing population. We characterize the set of incentive compatible allocation rules and provide a generalized revenue...

Persistent link: https://www.econbiz.de/10005019437

Auction Design with Loss Averse Bidders: The Optimality of All Pay Mechanisms

Eisenhuth, Roland - Volkswirtschaftliche Fakultät, … - 2010

Auctioneers who have an indivisible object for sale and believe that bidders are risk neutral can find the recipe for an optimal auction in Myerson (1981); auctioneers who believe that bidders are loss averse can find it here: An optimal auction is an all pay auction with minimum bid, and any...

Persistent link: https://www.econbiz.de/10008602762

A Poisson Stochastic Frontier Model with Finite Mixture Structure

Drivas, Kyriakos; Economidou, Claire; Tsionas, Efthymios G. - Volkswirtschaftliche Fakultät, … - 2014

Standard stochastic frontier models estimate log-linear specifications of production technology, represented mostly by production, cost, profit, revenue, and distance frontiers. We develop a methodology for stochastic frontier models of count data allowing for technological and inefficiency...

Persistent link: https://www.econbiz.de/10011107340

A Longitudinal Parametric Approach to Estimate Local Government Efficiency

Pacheco, Francisca; Sanchez, Rafael; Villena, Mauricio - Volkswirtschaftliche Fakultät, … - 2014

Previous empirical works on municipal efficiency have mostly used cross-sectional data which makes it impossible to … results. We present one of the first longitudinal parametric studies that analyze municipal efficiency and its determinants … using a one step procedure. Furthermore, we are the first of this kind that analize overall efficiency as well as efficiency …

Persistent link: https://www.econbiz.de/10011107534

Intergenerational modelling of the greenhouse effect

Spash, Clive L. - Volkswirtschaftliche Fakultät, … - 1994

greenhouse effect on efficiency grounds. The model characterises basic transfers, investigate the effect of greenhouse emissions …

Persistent link: https://www.econbiz.de/10011107739

Does Automation Improve Stock Market Efficiency? Evidence from Ghana

Mensah, Justice T.; Pomaa-Berko, Maame; Adom, Philip Kofi - Volkswirtschaftliche Fakultät, … - 2012

2008 is expected among other things to improve the efficiency of the market. This paper therefore investigates the impact … of the automation on the efficiency of the GSE within the framework of the weak-form Efficient Market Hypothesis (EMH … the GARCH models were used to analyze the efficiency of the GSE in the pre and post automation sample periods. Results …

Persistent link: https://www.econbiz.de/10011107800

Work incentive and productivity in Spain

Pisa, M. Isabel; Sánchez, Rosario - Volkswirtschaftliche Fakultät, … - 2013

favor of the efficiency wage model. This theory is consistent with the views of many managers and personal administrators …

Persistent link: https://www.econbiz.de/10011107852

Does brain research provide a case for the transfer of public monies to the arts?

Stefan, Mann - Volkswirtschaftliche Fakultät, … - 2012

This paper proposes, by way of a theoretical model, that public subsidies for the arts act as a spur to the consumption of the arts which, in turn, increases the level of human capital, leading to increased economic growth. It points out that some recent studies in brain research deliver...

Persistent link: https://www.econbiz.de/10011107979

Empirical study on the correlation of corporate social responsibility with the banks efficiency and stability

T., Vasylieva; A., Lasukova - Volkswirtschaftliche Fakultät, … - 2013

most important characteristics of the banking – efficiency and stability in a sample of twelve Ukrainian banks, which are … corporate social responsibility concept (CSR) of the following independent variables: 1 – efficiency (as a short term period …

Persistent link: https://www.econbiz.de/10011107989