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Transactions that did not happen and their influence on prices
Kirman, Alan P.; Härdle, Wolfgang; Schulz, Rainer; … - 2002
's favour during the day. These presumptions are then shown to be confirmed by our data set. -- Bargaining ; Markets … distribution of the buyer's reservation price. We show that periods with no buyer refusals, of offers or bargaining with no …
Persistent link: https://www.econbiz.de/10009624846
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The rate of convergence to perfect competition of matching and bargaining mechanisms
Shneyerov, Artyom (contributor);  … - 2008
). This class of games includes a simple random-proposer TIOLI game, but also many other interesting bargaining games. A … converge to the Walrasian limit, at the fastest possible rate O(t) among all bargaining mechanisms. Some important bargaining …. -- Matching and bargaining ; search ; double auctions ; foundations for perfect competition ; rate of convergence …
Persistent link: https://www.econbiz.de/10003782133
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Inefficiency in private value bargaining with naive players : an experimental study
Possajennikov, Alexandre; Saran, Rene - 2018
The paper reports on an experiment on two-player double-auction bargaining with private values. We consider a setting …
Persistent link: https://www.econbiz.de/10011852503
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A Simple Bargaining Mechanism that Elicits Truthful Reservation Prices
Brams, Steven J.; Kaplan, Todd R.; Kilgour, D. Marc - 2012
/2; if neither offer falls into the interval, there is no settlement. Comparisons are made with other bargaining mechanisms …
Persistent link: https://www.econbiz.de/10014043989
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A common-value auction with state-dependent participation
Lauermann, Stephan; Wolinsky, Asher - In: Theoretical Economics 17 (2022) 2, pp. 841-881
This paper analyzes a common-value, first-price auction with state-dependent participation. The number of bidders, which is unobservable to them, depends on the true value. For participation patterns with many bidders in each state, the bidding equilibrium may be of a "pooling" type---with high...
Persistent link: https://www.econbiz.de/10014536902
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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 mechanism is delegated to an agent of the buyer. The agent has private information about the buyer s preferences and may collude with one of the sellers. We provide a precise...
Persistent link: https://www.econbiz.de/10010342227
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Price formation in a sequential selling mechanism
Ivanova-Stenzel, Radosveta; Kröger, Sabine - 2005
This paper analyzes the trade of an indivisible good within a two-stage mechanism, where a seller first negotiates with one potential buyer about the price of the good. If the negotiation fails to produce a sale, a second 'price sealed' bid auction with an additional buyer is conducted. The...
Persistent link: https://www.econbiz.de/10010365906
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Negotiating cultures in corporate procurement : conference paper
Rosar, Frank; Müller, Florian - 2014 - (This version: February 5, 2014)
For a repeated procurement problem, we compare two stylized negotiating cultures which differ in how the buyer uses an entrant to exert pressure on the incumbent resembling U.S. style and Japanese style procurement. In each period, the suppliers are privately informed about their production...
Persistent link: https://www.econbiz.de/10010490631
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Auctions vs negotiations in public procurement : which works better?
Lalive, Rafael; Schmutzler, Armin; Zulehner, Christine - 2015 - Version: October 20, 2015
Public agencies mainly rely on two modes to procure goods and services: auctions and direct negotiations. We study a 1994 policy change in Germany that introduced the possibility to procure rail services in auctions as well as in direct negotiations with the incumbent. We analyze the effect of...
Persistent link: https://www.econbiz.de/10011384086
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An Experimental Investigation of Auctions and Bargaining in Procurement
Shachat, Jason - 2012
such procurement is an English auction followed by an auctioneer's option to engage in ultimatum bargaining with the winner …
Persistent link: https://www.econbiz.de/10013098499