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An empirical perspective on auctions
Hendricks, Ken; Porter, Robert H. - 2006
We describe the economics literature on auction markets, with an emphasis on the connection between theory, empirical practice, and public policy, and a discussion of outstanding issues. We describe some basic concepts, to highlight some strengths and weaknesses of the literature, and so...
Persistent link: https://www.econbiz.de/10010270365
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Auctions for Oil and Gas Leases with an Informed Bidder and a Random Reservation Price
Hendricks, Kenneth - 1990
The paper analyzes a first price, sealed bid auction with a random reservation price where the object has an unknown common value, but one buyer has better information than the others. We permit the reservation price to be correlated with the information of the informed buyer, which reflects...
Persistent link: https://www.econbiz.de/10012235725
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The visible hand: Finger ratio (2D:4D) and competitive bidding
Pearson, Matthew; Schipper, Burkhard C. - 2011
In an experiment using two-bidder first-price sealed bid auctions with symmetric independent private values and 400 …D) of the right hand, a measure of prenatal hormone exposure, is correlated with bidding behavior and total profits. 2D … correlation between 2D:4D on either bidding or profits. However, there might be racial differences in the correlation between 2D:4 …
Persistent link: https://www.econbiz.de/10010282098
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SIMBIOSES: Modelling Industrial Metabolism in a Multi-Regional Economic System
Janssen, Marco A.; van den Bergh, Jeroen C.J.M. - 1999
A model framework, SIMBIOSES, is presented which describes economic activities and relatedmaterial, substance and energy flows in a multi-region and multi-sector economic system. Theconceptual design of the framework is discussed in relation to current issues on dematerializationand...
Persistent link: https://www.econbiz.de/10010324688
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Estimating a model of excess demand for public housing
Geyer, Judy; Sieg, Holger - In: Quantitative Economics 4 (2013) 3, pp. 483-513
Persistent link: https://www.econbiz.de/10011599646
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Unique bid auction games
Rapoport, Amnon; Otsubo, Hironori; Kim, Bora; Stein, … - 2009
Two auction mechanisms are studied in which players compete with one another for an exogenously determined prize by independently submitting integer bids in some discrete and commonly known strategy space specified by the auctioneer. In the unique lowest (highest) bid auction game, the winner of...
Persistent link: https://www.econbiz.de/10010267061
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Strategic Power Revisited
Napel, Stefan; Widgrén, Mika - 2002
Traditional power indices ignore preferences and strategic interaction. Equilibrium analysis of particular non-cooperative decision procedures is unsuitable for normative analysis and assumes typically unavailable information. These points drive a lingering debate about the right approach to...
Persistent link: https://www.econbiz.de/10010315462
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On the Design of Public Infrastructure procurements
Vlist, Arno Van Der; Hardeman, Sander - 2010
Public procurement of infrastructure has been subject to a long standing debate concerning the procurements' qualification requirements. Basically, it remains unclear what determines public procurement officers to vary procurements' qualification requirements. This research serves to elaborate...
Persistent link: https://www.econbiz.de/10011332620
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Endogenous price leadership: A theoretical and experimental analysis
Güth, Werner; Pull, Kerstin; Stadler, Manfred; Zaby, … - 2013
competitive bidding. The experimental data of later rounds support our theoretical finding that experienced price leaders with …
Persistent link: https://www.econbiz.de/10010323890
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Endogenous price leadership: A theoretical and experimental analysis
Güth, Werner; Pull, Kerstin; Stadler, Manfred; Zaby, … - 2014
bidding. According to the experimental data at least experienced price leaders with lower marginal costs choose higher prices …. In the bidding treatment, compensation payments to the price leader crowd in efficiency concerns. …
Persistent link: https://www.econbiz.de/10010330372