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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
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
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
establish an accurate risk-return ratio. The efficiency of banks involved in the shipping industry is particularly important … shipping companies. This paper presents an effort to assess the shipping banks’ efficiency, and the determination of those … factors which affect their technical efficiency, through the application of Data Envelopment Analysis. The results of this …
Persistent link: https://www.econbiz.de/10011210480
Major factors of efficiency of the economy of Ukraine, which influence is formalized in the form of valid regression … models, are revealed. On the basis of the constructed models the forecast of dynamics of the basic parameters of efficiency … of efficiency of economy of Ukraine are revealed. …
Persistent link: https://www.econbiz.de/10011267889
We analyze how the possibility of resale affects efficiency in multi-object uniform-price auctions with asymmetric … participate in a resale market after the auction. In all treatments, the possibility of resale increases efficiency after the … auction, but it also induces demand reduction by high-value bidders during the auction, which reduces auction efficiency. In …
Persistent link: https://www.econbiz.de/10011272701
innovations, trends and efficiency. In particular, we focus on controversial issues of microfinance, such as commercialization …
Persistent link: https://www.econbiz.de/10011258789
intangible assets on efficiency of professional football clubs. Econometric approach was used to establish econometric models for … three indicators of efficiency – total income, total cash flow and rank of club in the national championship. In all models … intangible assets (professional players) have reliable positive effect on efficiency of English football clubs. …
Persistent link: https://www.econbiz.de/10011258843
For several decades public enterprises have been criticised for their poor economic performance. Many economists take it as “conventional wisdom” that publicly owned enterprises are inefficient by their very nature. This seemed to be proved by what is probably the most cited survey...
Persistent link: https://www.econbiz.de/10011258910
definition of efficiency, and addresses the dimensionality issues of ANNs with minimum sample size requirements. …
Persistent link: https://www.econbiz.de/10011259245