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Auctions with imperfect commitment when the reserve may signal the auctioneer's type
Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2013
If bidders are uncertain whether the auctioneer sticks to the announced reserve, some bidders respond by not bidding, speculating that the auctioneer may revoke the reserve. However, the reserve inadvertently signals the auctioneer's type, which drives a unique separating and a multitude of...
Persistent link: https://www.econbiz.de/10009781360
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Auctioning process innovations when losers' bids determine royalty rates
Fan, Cuihong; Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2010
We consider a licensing mechanism for process innovations that combines a license auction with royalty contracts to those who lose the auction. Firms' bids are dual signals of their cost reductions: the winning bid signals the own cost reduction to rival oligopolists, whereas the losing bid...
Persistent link: https://www.econbiz.de/10003935644
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Licensing a common value innovation when signaling strength may backfire
Fan, Cuihong; Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2010
of combining auctions and royalty contracts for losers. …
Persistent link: https://www.econbiz.de/10003935649
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Optimal use of rewards as commitment device when bidding is costly
Hu, Luke - 2012
This paper considers procurement auctions with costly bidding when the auctioneer is unable to commit himself to …
Persistent link: https://www.econbiz.de/10009571029
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License auctions with royalty contracts for losers
Giebe, Thomas; Wolfstetter, Elmar - 2006
licensing without reducing bidders' surplus; therefore, it is more profitable than both standard license auctions and pure …
Persistent link: https://www.econbiz.de/10010371073
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License auctions with royalty contracts for (winners and) losers
Giebe, Thomas; Wolfstetter, Elmar - 2007 - April (revised) 2007
profitable than standard license auctions, auctioning royalty contracts, fixed-fee licensing, pure royalty licensing, and two …
Persistent link: https://www.econbiz.de/10010365856
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Subsidies, knapsack auctions and Dantzig’s greedy heuristic
Ensthaler, Ludwig; Giebe, Thomas - 2009
A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by quality and sellers have private reserve prices for their items. Sellers quote prices strategically, inducing a knapsack game. The buyer's problem is to select a subset of maximal quality. We...
Persistent link: https://www.econbiz.de/10003848830
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Security bid auctions for agency contracts
Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2012
A principal uses security bid auctions to award an incentive contract to one among several agents, in the presence of … auctions, although it cannot extract the entire surplus implement efficient effort. Hence, profit sharing emerges without risk …
Persistent link: https://www.econbiz.de/10009571056
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Auctions with imperfect commitment when the reserve may serve as a signal
Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar G. - 2014
If bidders are uncertain whether the auctioneer sticks to the announced reserve, some bidders respond by strategic non-participation, speculating that the auctioneer may revoke the reserve. However, the reserve inadvertently signals the auctioneer's type, which drives a unique separating and a...
Persistent link: https://www.econbiz.de/10010231626
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Optimal bid disclosure in license auctions with downstream interaction
Fan, Cuihong; Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2014
The literature on license auctions for process innovations in oligopoly assumed that the auctioneer reveals the winning …, partial, and no disclosure of bids, which correspond to standard auctions. We show that more information disclosure increases …
Persistent link: https://www.econbiz.de/10010378352