Showing 1 - 10 of 579
timber auctions, the Forest Service publicly announces its estimates of the tract characteristics before the auction, and …
Persistent link: https://www.econbiz.de/10012471603
How does investors' information about a country's fundamentals, and the fact that this information may be asymmetrically held, affect a country's financing cost? Motivated by this question, and by the observation that sovereign bonds are usually auctioned in large lots to a large number of...
Persistent link: https://www.econbiz.de/10012452833
We analyze bidding data from uniform price auctions of U.S. Treasury bills and notes between July 2009-October 2013. Primary dealers consistently bid higher yields compared to direct and indirect bidders. We estimate a structural model of bidding that takes into account informational asymmetries...
Persistent link: https://www.econbiz.de/10012453689
customer bids, and dealers observing customer bid can predict the auction cutoff price better. Customers also respond …
Persistent link: https://www.econbiz.de/10012467569
Recently, economists have developed methods for structural estimation of auction models. Many researchers object to … explore whether structural auction models can generate reasonable estimates of bidders' private information. Using bid data … from auction experiments, we estimate four alternative structural models of bidding in first-price sealed-bid auctions: 1 …
Persistent link: https://www.econbiz.de/10012468808
"per install" basis--plays a major role in the mix and characteristics of auction winners, and, consequently, in their … number of such users. The distortion becomes worse as the auction gets more competitive and the number of bidders increases …
Persistent link: https://www.econbiz.de/10012482310
role of timing within an ascending auction, and the possibilities for price forecasting -- and how economic and game … auction, in which a new entrant, SpectrumCo, faced all these problems yet managed to purchase nationwide coverage at a … discount of roughly a third relative to the prices paid by its incumbent competitors in the same auction, saving more than a …
Persistent link: https://www.econbiz.de/10012463882
Global games of regime change -- that is, coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it -- have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We...
Persistent link: https://www.econbiz.de/10012467670
We study information acquisition and dynamic withdrawal decisions when a spreading rumor exposes a solvent bank to a run. Uncertainty about the bank's liquidity and potential failure motivates depositors who hear the rumor to acquire additional noisy signals. Depositors with less informative...
Persistent link: https://www.econbiz.de/10012460148
We survey recent theoretical and empirical literature on political economics of non-democracies. Dictators face many challenges to their rule: internal, such as palace coups or breakdown of their support coalition, or external, such as mass protests or revolutions. We analyze strategic decisions...
Persistent link: https://www.econbiz.de/10012482169