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Testing for Stock Market Contagion: A Quantile Regression Approach
Park, Sungyong; Wang, Wendun; Huang, Naijing - Tinbergen Instituut - 2015
Regarding the asymmetric and leptokurtic behavior of financial data, we propose a new contagion test in the quantile regression framework that is robust to model misspecification. Unlike conventional correlation-based tests, the proposed quantile contagion test allows us to investigate the stock...
Persistent link: https://www.econbiz.de/10011257623
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Keeping out Trojan Horses: Auctions and Bankruptcy in the Laboratory
Onderstal, Sander; Veen, Ailko van der - Tinbergen Instituut - 2011
If a government auctions the right to market a good, continuity is likely to be of significant importance. In a …
Persistent link: https://www.econbiz.de/10011255466
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Auctions with Flexible Entry Fees
Janssen, Maarten; Karamychev, Vladimir A.; Maasland, Emiel - Tinbergen Instituut - 2009
by now a large literature arguing that auctions with a variety of after-market interactions may not yield an efficient …. We show that auctions with flexible entry fees have a fully revealing equilibrium where bidders signal their type before …
Persistent link: https://www.econbiz.de/10011255544
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Auctions with Flexible Entry Fees
Janssen, Maarten; Karamychev, Vladimir A.; Maasland, Emiel - Tinbergen Institute - 2009
There is by now a large literature arguing that auctions with a variety of after-market interactions may not yield an … auctioneer. We show that auctions with flexible entry fees have a fully revealing equilibrium where bidders signal their type …
Persistent link: https://www.econbiz.de/10008513243
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Going Once, Going Twice, Reported! Cartel Activity And The Effectiveness Of Leniency Programs in Experimental Auctions
Hinloopen, Jeroen; Onderstal, Sander - Tinbergen Institute - 2009
We experimentally examine the effectiveness of a leniency program against bidding rings in two commonly used auctions …
Persistent link: https://www.econbiz.de/10008531423
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The Unique-lowest Sealed-bid Auction
Houba, Harold; Laan, Dinard van der; Veldhuizen, Dirk - Tinbergen Institute - 2008
Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest … bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two …
Persistent link: https://www.econbiz.de/10005136936
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Auctions with Numerous Bidders
Caserta, Silvia; Vries, Casper G. de - Tinbergen Institute - 2005
We study auctions in which the number of potential bidders is large, such as in Internet auctions. With numerous … Internet auctions. …
Persistent link: https://www.econbiz.de/10005136954
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Auctions, Market Prices and the Risk Attitude Effect
Janssen, Maarten C.W.; Karamychev, Vladimir A. - Tinbergen Institute - 2005
lottery ticket. li one license is auctioned, auctions select the firm that is least risk averse. This is what we call the risk …
Persistent link: https://www.econbiz.de/10005137048
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Do Auctions and Forced Divestitures increase Competition?
Soetevent, Adriaan R.; Haan, Marco A.; Heijnen, Pim - Tinbergen Institute - 2008
divestitures. The Dutch government has done exactly that, organizing auctions to redistribute tenancy rights for high- way gasoline …
Persistent link: https://www.econbiz.de/10005137121
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Competitive Bidding in Auctions with Private and Common Values
Goeree, Jacob K.; Offerman, Theo - Tinbergen Institute - 2000
The objects for sale in most auctions possess both private and common value elements. This salient feature has not yet …
Persistent link: https://www.econbiz.de/10005450754