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We investigate the role of competition on the outcome of Austrian Treasury auctions. Austria's EU accession led to an … examine the effect of increased competition on auction performance: We find that increased competition reduced bidder surplus … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …
Persistent link: https://www.econbiz.de/10011436067
Tournaments are commonly used in the workplace to determine promotion, assign bonuses, and motivate personal development. Tournament-based contracts can be very effective in eliciting high effort, often outperforming other compensation contracts, but they can also have negative consequences for...
Persistent link: https://www.econbiz.de/10011554844
We investigate the role of competition on the outcome of Austrian Treasury auctions. Austria's EU accession led to an … examine the effect of increased competition on auction performance: We find that increased competition reduced bidder surplus … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …
Persistent link: https://www.econbiz.de/10011495132
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legal systems, political competition, war, conflict avoidance, sales, and charities, and suggest directions for future …
Persistent link: https://www.econbiz.de/10009687977
We investigate the role of competition on the outcome of Austrian Treasury auctions. EU accession by Austria provides a … issued debt. We use structural estimates of bidders private values to examine the effect of increased competition on auction … as a result of increased competition. …
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