Narrow search
Showing 1 - 10 of 625
Cover Image
Efficient promotion of renewable energy with reverse auctions
Schäfer, Sebastian; Schulten, Lisa - 2015
Despite negative experiences with auctioning off subsidies for renewable energy in some countries, tenders are increasingly used today. We develop a reverse auction which accounts for particularities of intermittent renewable energy sources. Determining the quantity, demanded by the regulator,...
Persistent link: https://www.econbiz.de/10011286401
Cover Image
Bidding with Securities under Risk Aversion : The Role of Steepness as Insurance
Fioriti, Andres - 2019
, steeper securities increase the seller's expected revenue but do not affect the efficiency of the auction. We introduce risk …-averse bidders to analyze the insurance role of steepness and its implications for revenue, efficiency and bidders' endogenous … the allocative efficiency of the auction. In addition, we present two results that are novel to the auction literature. We …
Persistent link: https://www.econbiz.de/10012865568
Cover Image
Mechanism Design with Aftermarkets : Cutoff Mechanisms
Dworczak, Piotr - 2020
I study a mechanism design problem in which a designer allocates a single good to one of several agents, and the mechanism is followed by an aftermarket -- a post-mechanism game played between the agent who acquired the good and third-party market participants. The designer has preferences over...
Persistent link: https://www.econbiz.de/10012855036
Cover Image
Negative Bubbles and the Market for 'Dreams' : 'Lemons' in the Looking Glass
Emery, Douglas R. - 2014
I extend Akerlof's (1970) adverse selection model, where uninformed participants withdraw from the market, and show that rather than collapse, "lemons" can, and often do, lead to a negative bubble. A mirror image of his model, where uninformed participants pursue "dreams" (for example,...
Persistent link: https://www.econbiz.de/10013044919
Cover Image
Split-award auctions and supply disruptions
Fugger, Nicolas; Laitenberger, Ulrich - 2020
Problem Definition: We consider a buyer that needs to source a fixed quantity. She faces several potential suppliers that might fail to deliver. The buyer conducts a procurement auction to determine contract suppliers and can choose between single-sourcing and multi-sourcing. If contract...
Persistent link: https://www.econbiz.de/10012389768
Cover Image
Split-award auctions and supply disruptions
Fugger, Nicolas; Laitenberger, Ulrich - 2020 - This version: December 21, 2020
Problem Definition: We consider a buyer that needs to source a fixed quantity. She faces several potential suppliers that might fail to deliver. The buyer conducts a procurement auction to determine contract suppliers and can choose between single-sourcing and multi-sourcing. If contract...
Persistent link: https://www.econbiz.de/10012388963
Cover Image
Optimal information disclosure and market outcomes
Hopenhayn, Hugo; Saeedi, Maryam - In: Theoretical Economics 18 (2023) 4, pp. 1317-1344
This paper addresses two central questions in markets with adverse selection: How does information impact the welfare of market participants (sellers and buyers)? Also, relatedly, what is the optimal information disclosure policy and how is it affected by the planner’s relative welfare weight...
Persistent link: https://www.econbiz.de/10014536888
Cover Image
Aggregation and Design of Information in Asset Markets with Adverse Selection
Asriyan, Vladimir - 2019
How effectively does a decentralized marketplace aggregate information that is dispersed throughout the economy? We study this question in a dynamic setting where sellers have private information that is correlated with an unobservable aggregate state. In any equilibrium, each seller's trading...
Persistent link: https://www.econbiz.de/10012901979
Cover Image
Search Costs and the Severity of Adverse Selection
Palazzo, Francesco - 2016
In view of some recent empirical evidence, I suggest a relationship between the magnitude of search costs and the severity of adverse selection in the context of a dynamic model with asymmetric information. In markets with small search costs sellers with low quality products misrepresent their...
Persistent link: https://www.econbiz.de/10012979536
Cover Image
Size discovery
Duffie, Duffie; Zhu, Haoxiang - 2016
augmenting a price-discovery mechanism with a size-discovery mechanism improves allocative efficiency …
Persistent link: https://www.econbiz.de/10011862345