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Inverse Adverse Selection: The Market for Gems
Dari-Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - Tinbergen Instituut - 2011
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10011256127
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Inverse Adverse Selection: The Market for Gems
Dari-Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - Tinbergen Institute - 2011
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10008838639
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Inverse Adverse Selection: The Market for Gems
Dari-Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - 2011
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10010325638
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Signaling in auctions : experimental evidence
Bos, Olivier; Gomez-Martinez, Francisco; Onderstal, Sander - 2017 - Revised: 7-7-2017
We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …
Persistent link: https://www.econbiz.de/10011664217
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Cheap-talk communication in procurement auctions : theory and experiment
Onderstal, Sander; Yang, Yang - 2020
question of the value added of letting the sourcing process consist of both an auction and a negotiation stage, theoretically … auction is beneficial to the buyer compared to no communication and ex-ante communication. In a setting where the buyer and …
Persistent link: https://www.econbiz.de/10012167341
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Inverse adverse selection : the market for gems
Dari Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - 2010
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10011382752
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Signalling in auctions : experimental evidence
Bos, Olivier; Gomez-Martinez, Francisco; Onderstal, Sander - 2021
We study the relative performance of the first-price sealed-bid auction, the second-price sealed-bid auction, and the … all-pay sealed-bid auction in a laboratory experiment where bidders can signal information through their bidding behaviour …-bid auction in which the bidders’ payments are revealed outperforms the other mechanisms in terms of revenue, while this mechanism …
Persistent link: https://www.econbiz.de/10012500904
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Signaling in Auctions : Experimental Evidence
Bos, Olivier - 2017
We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …
Persistent link: https://www.econbiz.de/10012953306
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Signaling in Auctions : Experimental Evidence
Bos, Olivier - 2017
We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a … winner's payment to an outside observer. We find that the first-price sealed-bid auction in which the winner's payment is …
Persistent link: https://www.econbiz.de/10012953920
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Signalling in Auctions : Experimental Evidence
Bos, Olivier; Gomez-Martinez, Francisco; Onderstal, Sander - 2021
We study the relative performance of the first-price sealed-bid auction, the second-price sealed-bid auction, and the … all-pay sealed-bid auction in a laboratory experiment where bidders can signal information through their bidding behaviour …-bid auction in which the bidders’ payments are revealed outperforms the other mechanisms in terms of revenue, while this mechanism …
Persistent link: https://www.econbiz.de/10013231698