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Do Auctions and Forced Divestitures Increase Competition? Evidence for Retail Gasoline Markets
Soetevent, Adriaan R. - 2009
Where markets are insufficiently competitive, governments can intervene by auctioning licenses to operate or by forcing divestitures. The Dutch government has done exactly that, organizing auctions to redistribute tenancy rights for high-way gasoline stations and forcing the divestiture of...
Persistent link: https://www.econbiz.de/10012720033
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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 … and in the potential activation of behavioral biases: (i) the ascending Vickrey auction, a closed format; and two open … 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
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Auctions for Private Congestible Infrastructures
van den Berg, Vincent A.C - 2013
. The effects of an auction depend on what the bidders compete. With a bid auction, the bidders compete on how much money … they transfer to the government. This auction leads to the same outcome as the unregulated game (for a given market … structure), since this gives the maximum profit to transfer. An auction on the capacity of a facility leads to an even lower …
Persistent link: https://www.econbiz.de/10014166117
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Emotions and Economic Shocks in a First-Price Auction
Bosman, Ronald; Riedl, Arno - 2003
We investigate experimentally whether emotions affect bidding behavior in a firstprice auction. To induce emotions, we … confront subjects after a first auction series with apositive or negative random economic shock. We then explore the relation … between emotions andbidding behavior in a second auction series. Our main results are: (i) the economic shock has asubstantial …
Persistent link: https://www.econbiz.de/10010324866
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Demand Reduction and Preemptive Bidding in Multi-Unit License Auctions
Goeree, Jacob; Offerman, Theo; Sloof, Randolph - 2004
as equilibrium phenomena of the ascending auction. In a series of experiments, we compare its performance to that of the … discriminatory auction. Strategic demand reduction is quite prevalent in the ascending auction even when entry by the newcomer … imposes a (large) negative externality on incumbents. As a result, the ascending auction performs worse than the …
Persistent link: https://www.econbiz.de/10010325228
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Auctions with Numerous Bidders
Caserta, Silvia; de Vries, Casper G. - 2005
bidders, the expected revenue and the optimal bid function in a first price auction result in complicated expressions, except …
Persistent link: https://www.econbiz.de/10010325276
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The Extent of Internet Auction Markets
de Haan, Laurens; de Vries, Casper; Zhou, Chen - 2008
Internet auctions attract numerous agents, but only a few become active bidders. A major difficulty in the structural analysis of internet auctions is that the number of potential bidders is unknown. Under the independent private value paradigm (IPVP)the valuations of the active bidders form a...
Persistent link: https://www.econbiz.de/10010325679
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Mergers in Bidding Markets
Janssen, Maarten; Karamychev, Vladimir - 2013
We analyze the effects of mergers in first-price sealed-bid auctions on bidders' equilibrium bidding functions and on revenue. We also study the incentives of bidders to merge given the private information they have. We develop two models, depending on how after-merger valuations are created. In...
Persistent link: https://www.econbiz.de/10010326240
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Auctions for Private Congestible Infrastructures
van den Berg, Vincent A.C. - 2012
. The effects of an auction depend on what the bidders compete. With a transfer auction, the bidders compete on how much … money they transfer to the government. This auction leads to the same outcome as the game without an auction (for a given … market structure), since this gives the maximum profit to transfer. An auction on the capacity of a facility leads to an even …
Persistent link: https://www.econbiz.de/10010326341
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Gaming in Combinatorial Clock Auctions
Janssen, Maarten; Karamychev, Vladimir - 2013
account, CCAs provide bidders with significant gaming possibilities, resulting in high auction prices and problems associated …
Persistent link: https://www.econbiz.de/10010326491