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Gershkov, Alex; Toxvaerd, Flavio - 2006

This paper revisits recent empirical research on buyer credulity in arts auctions and auctions for assets in general …

Persistent link: https://www.econbiz.de/10010365885

Information aggregation in competitive markets

Siga, Lucas; Mihm, Maximilian - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 1, pp. 161-196

We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our main result identifies a property of information---the betweenness property---that is both necessary and sufficient for information aggregation. The characterization provides...

Persistent link: https://www.econbiz.de/10012415617

Marketplace Lending, Information Aggregation, and Liquidity

Franks, Julian R. - 2020

from auctions and take on the role of price setting and credit allocation, despite evidence that retail investors possess … valuable soft and nonstandard information. Our analysis uses a unique data set on 7,455 auctions and 34 million bids, from the …

Persistent link: https://www.econbiz.de/10012854965

Market power and welfare in asymmetric divisible good auctions

Manzano Tovar, Carolina; Vives, Xavier - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 3, pp. 1095-1137

We analyze a divisible good uniform‐price auction that features two groups, each with a finite number of identical bidders, who compete in demand schedules. In the linear‐quadratic‐normal framework, this paper presents conditions under which the unique equilibrium in linear demands exists...

Persistent link: https://www.econbiz.de/10012806389

Chapter 9. Algorithmic Mechanism Design : Through the lens of Multiunit auctions

Nisan, Noam - In: Handbook of game theory with economic applications : …, (pp. 477-515). 2015

addressing it by focusing on a single simple problem: multiunit auctions. A variety of issues will be discussed: representation …

Persistent link: https://www.econbiz.de/10014025450

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

Auctions vs. negotiations : the case of favoritism ; conference paper

Gretschko, Vitali; Wambach, Achim - 2013

We compare two commonly used mechanisms in procurement: auctions and negotiations. The execution of the procurement …

Persistent link: https://www.econbiz.de/10010342227

Auction mechanisms and bidder collusion : bribes, signals and selection

Llorente-Saguer, Aniol; Zultan, Ro'i - 2014 - This version: November 20, 2014

The theoretical literature on collusion in auctions suggests that the first-price mechanism can deter the formation of … likely to affect the bidding behavior in first-price (but not second-price) auctions. We test experimentally a setup in which … collusion in first-price and second-price auctions. Furthermore, failed collusion attempts distort the bidding behavior in the …

Persistent link: https://www.econbiz.de/10010472820

Revenues and welfare in auctions with information release

Schweizer, Nikolaus; Szech, Nora - 2015

Auctions are the allocation-mechanisms of choice whenever goods and information in markets are scarce. Therefore … comparative statics of welfare versus revenues for auctions with one or more objects and varying numbers of bidders. Depending on …

Persistent link: https://www.econbiz.de/10010507805

Revenues and welfare in auctions with information release

Schweizer, Nikolaus; Szech, Nora - 2015

Persistent link: https://www.econbiz.de/10010529939