Showing 1 - 10 of 388
asymmetric, multi-object, all-pay auction framework in Bodoh-Creed and Hickman (2014). We pay 5th through 8th grade students …
Persistent link: https://www.econbiz.de/10010890092
The combinatorial clock auction is becoming increasingly popular for large-scale spectrum awards and other uses …, replacing more traditional ascending or clock auctions. We describe some surprising properties of the auction, including a wide … the auction separates allocation and pricing, so that bidders are asked to make decisions that cannot possibly affect …
Persistent link: https://www.econbiz.de/10010950813
-auto auctions, an $80 billion industry where buyers and sellers participate in alternating-offer bargaining when the auction price … fails to reach a secret reserve price. Using 270,000 auction/bargaining sequences, this study nonparametrically estimates …
Persistent link: https://www.econbiz.de/10010951057
This paper studies the welfare consequence of increasing trading speed in financial markets. We build and solve a dynamic trading model, in which traders receive private information of asset value over time and trade strategically with demand schedules in a sequence of double auctions. A...
Persistent link: https://www.econbiz.de/10010951139
This paper proposes an estimation method for a repeated auction game under the presence of capacity contraints. The … asymmetry, the auction can be inefficient. Based on the estimates of costs, we quantify efficiency losses. …
Persistent link: https://www.econbiz.de/10005828982
.S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … value auction model with endogenous participation can account for these qualitative effects of auction format. We estimate … an assessment of bidder competitiveness, which has important consequences for auction choice. …
Persistent link: https://www.econbiz.de/10005830377
Consumer auctions were very popular in the early days of internet commerce, but today online sellers mostly use posted prices. Data from eBay shows that compositional shifts in the items being sold, or the sellers offering these items, cannot account for this evolution. Instead, the returns to...
Persistent link: https://www.econbiz.de/10010796544
. Bidders can "buy-it-now" at a posted price, or "take-a-chance" in an auction where the top d > 1 bidders are equally likely to … mechanism increases revenue by 4.4% and consumer surplus by 14.5% compared to an optimal second-price auction. …
Persistent link: https://www.econbiz.de/10010821708
In elections that take place in a less-than-perfect democracy, incumbency advantages are different from those in mature democracies. The incumbent can prevent credible challengers from running, organize vote fraud, or even physically eliminate his main opponents. At the same time, formally...
Persistent link: https://www.econbiz.de/10010951008
Much literature on political behavior treats politicians as motivated by reelection, choosing actions to signal their types to voters. We identify two novel implications of models in which signalling incentives are important. First, because incumbents only care about clearing a reelection...
Persistent link: https://www.econbiz.de/10009652779