Narrow search
Showing 1 - 10 of 324
Cover Image
Do prices in the unmediated call auction reflect insiderinformation? – An experimental analysis
Brünner, Tobias; Levinski, Rene - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
The unmediated call auction is a useful trading mechanism to aggregate dispersedinformation. Its ability to incorporate … auction game where both auction prices and limit prices of uninformed tradersre°ect potential insider information. The … predictions of the model are tested inthe laboratory. While an insider improves the call auction outcomes in terms ofincreasing …
Persistent link: https://www.econbiz.de/10005866435
Cover Image
Öffentliches Beschaffungswesen
Deutschland / Bundesministerium für Wirtschaft und … - 2007
.h. der Beschaffung guterQualität zu günstigen Preisen, auch andere,politische Ziele zu berücksichtigen. So beschlossendie …
Persistent link: https://www.econbiz.de/10005866211
Cover Image
Asymmetric Auction Experiments With(out) Commonly Known Beliefs
Güth, Werner; Ivanova-Stenzel, Radosveta - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2002
Are commonly known beliefs essential for bidding behavior in asymmetric auctions? Our experimental results suggest that not informing participants how values are randomly generated does not change behavior much and may even make it appear more rational.
Persistent link: https://www.econbiz.de/10005867012
Cover Image
Measuring Emotions in Electronic Auctions
Adam, Marc Thomas Philipp - Institut für Informationswirtschaft und -management … - 2010
, and in particular Internet consumer auctions, is the hedonicor emotional value bidders derive from auction participation … important challenges, regarding both the auction mechanism design and theuser interface design. First, how can an auction system … proof-of-concept study.Moreover, an experiment was conducted in order to analyze the impact of clock speedson the bidders …
Persistent link: https://www.econbiz.de/10009262194
Cover Image
Competition on Common Value Markets with Naive Traders– A Theoretical and Experimental Analysis
Chlaß, Nadine; Güth, Werner - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007
Theoretically and experimentally, we generalize the analysis of acquiringa company (Samuelson and Bazerman 1985) by allowing for competition ofboth, buyers and sellers. Naivety of both is related to the idea that higherprices exclude worse qualities. While competition of naive buyers...
Persistent link: https://www.econbiz.de/10005866465
Cover Image
The Effect of Monetary Feedback and Information Spillovers onCognitive Errors: Evidence from Competitive Markets
Budescu, David V.; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
A vast literature shows that individuals frequently violate normative principles in reasoning. In evaluatingthe relevance of these findings for psychology, economics, and related disciplines, it is natural to askwhether reasoning errors reflect random aberrations or systematic biases. One...
Persistent link: https://www.econbiz.de/10005866768
Cover Image
Prices as indicators of scarcity - anexperimental study of a multistageauction
McDaniel, Tanga; Nicklisch, Andreas - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
The price mecanism is the primary means of information transferin decentralized economic systems. High prices indicate highdemand, whereas low prices indicate low demand. Thus prices arethe signals for accelerating or slowing production. However, usingsequential, multi-unit auctions, we show...
Persistent link: https://www.econbiz.de/10005866772
Cover Image
Framing Effects, Selective Information andMarket Behavior An Experimental Analysis
Kirchler, Erich; Maciejovsky, Boris; Weber, Martin - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004
The results of an asset market experiment, in which 64 subjects trade two assets oneight markets in a computerized … continuous double auction, indicate that objectivelyirrelevant information influences trading behavior. Moreover, positively and …
Persistent link: https://www.econbiz.de/10005866816
Cover Image
Interaction of Human and Artificial Agents on Double Auction MarketsSimulations and Laboratory Experiments
Grossklags, Jens; Schmidt, Carsten - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
This paper provides an overview on the simulations andexperiments we have done in order to better understandhuman-agent interaction in a market environment. We findthat the introduction of software agents does not necessarilyinduce a more efficient market. More surprisingly,information on the...
Persistent link: https://www.econbiz.de/10005866907
Cover Image
Reasoning and Institutions: Do Markets Facilitate LogicalReasoning in the Wason Selection Task?
Budescu, David V.; Maciejovsky, Boris - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
A vast literature shows that individuals frequently fail to identify the normative solutionsin logical reasoning tasks. Much attention has been devoted to the study ofthese deviations at the individual level; less effort was exerted to investigate whetherinstitutional settings might facilitate...
Persistent link: https://www.econbiz.de/10005866977