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Dieses Buch umfaßt die Darstellung der traditionellen und modernen mikroökonomischen Theorie; es enthält Modelle der …This book includes the presentation of traditional and modern microeconomic theory; it contains models of the basic … modern industrial world market. Furthermore, the book contains sections on general equilibrium theory and welfare theory. …
Persistent link: https://www.econbiz.de/10009480630
sets simulated for Full Signal Detection Theory and its special cases of standard Signal Detection Theory and Complementary … Signal Detection Theory. …
Persistent link: https://www.econbiz.de/10009441534
Chapter 1: Efficient Design of an Auction with Discrete Bid Levels This paper studies one of auction design issues: the choice of bid levels. Full efficiency is generally unachievable with a discrete auction. Since there may be more than one bidder who submits the same bid, the auction cannot...
Persistent link: https://www.econbiz.de/10009450772
preferences beyond the classical concept of expected utility theory. The thesis contains four main chapters.The first two chapters … dependence compared to classical models of expected utility theory. It is shown that some empirical puzzles concerning … utility theory are met. It is shown that the methodological concerns are empirically relevant when a classification of …
Persistent link: https://www.econbiz.de/10009482308
areas in economics as vexed as the theory of value. I argue in this paper that the fundamental problem with past theories of … assumptions which significantly affect the results. There have been two primary approaches to the theory of value. The first … theory of value has been discredited because of its assumption that labour was the only ‘factor’ that contributed to the …
Persistent link: https://www.econbiz.de/10009483972
A great body of knowledge exists on the theory of auctions and competitive bidding that is of potential relevance to … to the body of knowledge on the economic theory of auctions by closing some of the gap between theory and practice. …
Persistent link: https://www.econbiz.de/10009437646
This paper studies the evolutionary stability of the unique Nash equilibrium of a first price sealed bid auction. It is shown that the Nash equilibrium is not asymptotically stable under payoff monotonic dynamics for arbitrary initial populations. In contrast, when the initial population...
Persistent link: https://www.econbiz.de/10009452572
Classical auction theory relies heavily on the assumption of perfectly rational bidders that play according to their …
Persistent link: https://www.econbiz.de/10009428992
Because sequential auctions have permeated society more than ever, it is desirable for participants to have the optimal strategies beforehand. However, finding closed-form solutions to various sequential auction games is challenging. Current literature provides some answers for specific cases...
Persistent link: https://www.econbiz.de/10009431203
We analyze a model of Internet auctions. Sellers each offer one item of a heterogeneous good to bidders who have unit-demand preferences. Items are sold in second-price proxy auctions. We derive a perfect Bayesian (epsilon-) equilibrium. Our experimental findings support the theoretical results....
Persistent link: https://www.econbiz.de/10009434632