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The Value of Commitment in Auctions with Matching
Lamping, Jennifer - Volkswirtschaftliche Fakultät, … - 2008
optimal for the seller to do away with any matching considerations and allocate the contract on the basis of price alone. If … matching is sufficiently important to the seller, the optimal mechanism may be implemented without commitment. However, if … matching is not sufficiently important, the seller suffers a loss when he is unable to commit. The magnitude of this loss …
Persistent link: https://www.econbiz.de/10008490104
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Ignorance Is Bliss: Matching in Auctions with an Uninformed Seller
Lamping, Jennifer - Volkswirtschaftliche Fakultät, … - 2008
In many auctions, matching between the bidder and seller raises the value of the contract for both parties. However … depresses bids. The more matching matters, the greater the penalty associated with observing the matches. …
Persistent link: https://www.econbiz.de/10008532170
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Unbeatable Imitation
Duersch, Peter; Oechssler, Joerg; Schipper, Burkhard C - Volkswirtschaftliche Fakultät, … - 2010
, like 2x2 games, Cournot duopoly, price competition, rent seeking, public goods games, common pool resource games, minimum …
Persistent link: https://www.econbiz.de/10008615619
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On the (Non)-Lattice Structure of Equilibrium Sets in Games with Strategic Substitutes
Roy, Sunanda - 2020
This paper studies models where the optimal response functions under consideration are non-increasing in endogenous variables, and weakly increasing in exogenous parameters. Such models include games with strategic substitutes, and include cases where additionally, some variables may be...
Persistent link: https://www.econbiz.de/10012824357
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A Comment on "Cycles and Instability in a Rock-Paper-Scissors Population Game: A Continuous Time Experiment"
Wang, Zhijian; Zhu, Siqian; Xu, Bin - Volkswirtschaftliche Fakultät, … - 2013
simultaneous matching in discrete time) replicate previous results that exhibit weak or no cycles. After correcting two …
Persistent link: https://www.econbiz.de/10011114182
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Iterated Potential and Robustness of Equilibria
Oyama, Daisuke; Tercieux, Olivier - Volkswirtschaftliche Fakultät, … - 2004
For any given set-valued solution concept, it is possible to consider iterative elimination of actions outside the solution set. This paper applies such a procedure to define the concept of iterated monotone potential maximizer (iterated MP-maximizer). It is shown that under some monotonicity...
Persistent link: https://www.econbiz.de/10005836420
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Solving payoff sets of perfect public equilibria: an example
Du, Chuang - Volkswirtschaftliche Fakultät, … - 2012
We study an example of infinitely repeated games in which symmetric duopolistic firms produce experience goods. After consuming the products, short-run consumers only observe imperfect public information about product quality. We characterize perfect public equilibrium payoff set E(δ) of firms...
Persistent link: https://www.econbiz.de/10011260559
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The Value of Information in Auctions with Default Risk
Lamping, Jennifer - Volkswirtschaftliche Fakultät, … - 2007
After the close of an auction, the winning bidder may find that he is unable to carry out his bid offer. This paper seeks to determine what measures the seller should take to maximize his share of the surplus when bidders are privately informed about their risk of default. Special attention is...
Persistent link: https://www.econbiz.de/10008532158
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Mechanism Design for eliciting probabilistic estimates from multiple suppliers with unknown costs and limited precision
Papakonstantinou, A.; Rogers, A.; Gerding, E. H; … - Volkswirtschaftliche Fakultät, … - 2010
This paper reports on the design of a novel two-stage mechanism, based on strictly proper scoring rules, that allows a centre to acquire a costly probabilistic estimate of some unknown parameter, by eliciting and fusing estimates from multiple suppliers. Each of these suppliers is capable of...
Persistent link: https://www.econbiz.de/10011258050
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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