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Franses, Philip Hans - 2011

We propose a new and simple methodology to estimate the loss function associated with experts' forecasts. Under the assumption of conditional normality of the data and the forecast distribution, the asymmetry parameter of the lin-lin and linex loss function can easily be estimated using a linear...

Persistent link: https://www.econbiz.de/10013117423

Bayesian Analysis of Boundary and Near-Boundary Evidence in Econometric Models with Reduced Rank

Basturk, Nalan - 2017

. Examples are macroeconometric models with weak information on the number of stable relations, microeconometric models measuring … efficient market hypothesis and factor models for investment policies with weak information on the number of unobserved factors …

Persistent link: https://www.econbiz.de/10012953258

Balanced Unit Prices, the Case for Split Award Unit-Price Auctions

Renes, Sander - 2012

Many organizations use procurement tenders to buy large amounts of goods and services. Especially in the public sector the use of these reverse auctions has grown rapidly over the past decades. For the (reverse) unit price auction experience as well as theory has shown that they can attract...

Persistent link: https://www.econbiz.de/10013115145

Do Auctions and Forced Divestitures Increase Competition? Evidence for Retail Gasoline Markets

Soetevent, Adriaan R. - 2009

detailed price information. Accounting for non-randomness of the sites are auctioned, we find that an obligation to divest …

Persistent link: https://www.econbiz.de/10012720033

Auctioning Incentive Contracts : An Experimental Study

Onderstal, Sander; Van de Meerendonk, Arthur - 2010

In this note, we experimentally examine the relative performance of price-only auctions and multi-attribute auctions. We do so in procurement settings where the buyer can give the winning bidder incentives to exert effort on non-price dimensions after the auction. Both auctions theoretically...

Persistent link: https://www.econbiz.de/10014200953

Why Are Open Ascending Auctions Popular? The Role of Information Aggregation and Behavioral Biases

Offerman, Theo; Romagnoli, Giorgia; Ziegler, Andreas G. B. - 2020

aggregate dispersed information. Another reason behind the frequent utilization of open auction formats may be that they … activate revenue enhancing biases. In an experiment, we compare three auctions that differ in how much information is revealed … formats, (ii) the Japanese-English auction and (iii) the Oral Outcry auction. Even though bidders react to information …

Persistent link: https://www.econbiz.de/10014352203

Auctions for Private Congestible Infrastructures

van den Berg, Vincent A.C - 2013

This paper investigates regulation by auctions of private supply of congestible infrastructures in two networks settings: 1) two serial facilities, where the consumer has to use both in order to consume; and 2) two parallel facilities that are imperfect substitutes. There are four market...

Persistent link: https://www.econbiz.de/10014166117

Collusion and the Choice of Auction : An Experimental Study

Hinloopen, Jeroen; Onderstal, Sander - 2010

We experimentally examine the collusive properties of two commonly used auctions: the English auction (EN) and the first-price sealed-bid auction (FPSB). In theory, both tacit and overt collusion are always incentive compatible in EN while both can be incentive compatible in FPSB if the auction...

Persistent link: https://www.econbiz.de/10014188545

Growth and Risk: Methodology and Micro Evidence

Elbers, Chris; Gunning, Jan Willem; Kinsey, Bill - 2003

There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which allows us to estimate the model in the structural form...

Persistent link: https://www.econbiz.de/10010324821

An Econometric Analysis of the Mental-health Effects of Major Events in the Life of Elderly Individuals

Lindeboom, Maarten; Portrait, France; van den Berg, … - 2001

Major events in the life of an elderly individual, such as retirement, a significant decrease in income, death of the spouse, disability, and a move toa nursing home, may affect the mental health status of the individual. Forexample, the individual may enter a prolonged depression. We...

Persistent link: https://www.econbiz.de/10010324864