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market information, including auction price behavior. Simulations of a small model of the United States--estimated via full …
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In Buy-It-Now auctions, sellers can post a take-it-or-leave-it price offer prior to an auction. While the literature …
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measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price … consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize …
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If bidders are better informed than the seller about a common component of auction heterogeneity, the seller can …-price auction under unobserved auction heterogeneity-imperfectly observed by the seller-that captures this rationale and derive … perfect information about unobserved auction heterogeneity would increase surplus by 5.22%. Combining a secret reserve price …
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We develop a model where two players with asymmetric preferences engage in a contest game. The key novelty is the introduction of multi-dimensional rewards. We characterize the optimal prize allocation that maximizes aggregate effort. When heterogeneity in preferences is strong and the designer...
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