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Exposure problem in multi-unit auctions
Gunay, Hikmet; Meng, Xin - 2012
-unit simultaneous ascending auction. The global bidder wants to win both licenses to enjoy synergies; therefore, she bids more than her … the frequency of inefficient allocation in the simultaneous ascending auction. Then, we show that the Vickrey …-Clarke-Groves (VCG) mechanism may generate more revenue than the simultaneous ascending auction. …
Persistent link: https://www.econbiz.de/10010332442
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Risk, reward and uncertainty in buyer-seller transactions : the seller's view on combining posted prices and auctions
Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2023
In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …
Persistent link: https://www.econbiz.de/10014477420
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Inverse Adverse Selection: The Market for Gems
Dari-Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - 2011
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10010325638
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Asymmetric information in auctions : are resellers better appraisers?
Koptyug, Nikita - 2016
heterogeneity in the dispersion of private value components. I use the asymmetric ascending auction model of Hong and Shum (2003) to …
Persistent link: https://www.econbiz.de/10011430656
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Mergers in bidding markets
Janssen, Maarten C. W.; Karamychev, Vladimir A. - 2013
Persistent link: https://www.econbiz.de/10009724097
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Common value allocation mechanisms with private information : lotteries or auctions?
Matros, Alexander; Possajennikov, Alexandre - 2014
; and rst-price, second-price, and all-pay auctions. Second, we establish revenue equivalence of these auction mechanisms in … auctions. Finally, we identify an optimal mechanism and its implementation by means of reserve prices in lottery and auction …
Persistent link: https://www.econbiz.de/10010360354
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Inverse adverse selection : the market for gems
Dari Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - 2010
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10011382752
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Mergers in Bidding Markets
Janssen, Maarten - 2013
We analyze the effects of mergers in first-price sealed-bid auctions on bidders' equilibrium bidding functions and on revenue. We also study the incentives of bidders to merge given the private information they have. We develop two models, depending on how after-merger valuations are created. In...
Persistent link: https://www.econbiz.de/10013088780
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Asymmetric Information in Oil and Gas Lease Auctions with a National Company
Matoso, Rafael - 2013
competitively in a limited number of auctions only, and we discuss how our results can help to improve oil and gas tract auction …
Persistent link: https://www.econbiz.de/10013092779
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Reserve Price Signaling with Public Information : Evidence from Online Auto Auctions
Guan, Junyan; Xu, Boli - 2021
auction model in which a seller's choice of reserve price signals her private information about the object's quality. We show …. We estimate the reserve price signaling model using a novel dataset from a large online auto auction platform. We find …
Persistent link: https://www.econbiz.de/10013242047