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The effect of reputation on selling prices in auctions

Gürtler, Oliver; Grund, Christian - 2006

In economic approaches it is often argued that reputation considerations influence the behavior of individuals or firms … and that reputation influences the outcome of markets. Empirical evidence is rare though. In this contribution we argue … that a positive reputation of sellers should have an effect on selling prices. Analyzing auctions of popular DVDs at eBay …

Persistent link: https://www.econbiz.de/10010365875

Fighting collusion : an implementation theory approach

Azacis, Helmuts; Vida, Péter - 2021

A competition authority has an objective, which specifies what output profile firms need to produce as a function of production costs. These costs change over time and are only known by the firms. The objective is implementable if inequilibrium, the firms cannot collude on their reports to the...

Persistent link: https://www.econbiz.de/10012602309

Repeated contests with draws

Franke, Jörg; Metzger, Lars - 2023

We consider a simple contest game with draws where with some probability none of the contestants is selected as winner. If such an outcome occurs, then the contest is repeated in the next period unless either one of the contestants wins the prize or until a final last period is reached. Allowing...

Persistent link: https://www.econbiz.de/10014285495

Strategic leaks in first-price auctions and tacit collusion : the case of spying and counter-spying

Fan, Cuihong; Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2021

We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential bidding, complicated by the fact that the spy may be a counterspy who serves the interests of the spied at bidder and reports strategically distorted information. This ambiguity...

Persistent link: https://www.econbiz.de/10012507333

The Dynamic Pivot Mechanism

Bergemann, Dirk; Valimaki, Juuso - 2009

We consider truthful implementation of the socially efficient allocation in an independent private-value environment in which agents receive private information over time. We propose a suitable generalization of the pivot mechanism, based on the marginal contribution of each agent. In the...

Persistent link: https://www.econbiz.de/10014199987

The Dynamic Pivot Mechanism

Bergemann, Dirk; Valimaki, Juuso - 2008

Persistent link: https://www.econbiz.de/10014215953

Information Acquisition in Interdependent Value Auctions

Bergemann, Dirk; Valimaki, Juuso; Shi, Xianwen - 2009

We consider an auction environment with interdependent values. Each bidder can learn her payoff type through costly information acquisition. We contrast the socially optimal decision to acquire information with the equilibrium solution in which each agent has to privately bear the cost of...

Persistent link: https://www.econbiz.de/10014225325

Contest Architecture with Public Disclosures

Hinnosaar, Toomas - 2019

I study optimal disclosure policies in sequential contests. A contest designer chooses at which periods to publicly disclose the efforts of previous contestants. I provide results for a wide range of possible objectives for the contest designer. While different objectives involve different...

Persistent link: https://www.econbiz.de/10012869576

Optimal Sequential Contests

Hinnosaar, Toomas - 2018

I study sequential contests where the efforts of earlier players may be disclosed to later players by nature or by design. The model has a range of applications, including rent seeking, R&D, oligopoly, public goods provision, and tragedy of the commons. I show that information about other...

Persistent link: https://www.econbiz.de/10012928173

Pavlov, Gregory - 2013

We study cheap-talk pre-play communication in the static all-pay auctions. For the case of two bidders, all correlated and communication equilibria are payoff equivalent to the Nash equilibrium if there is no reserve price, or if it is commonly known that one bidder has a strictly higher value....

Persistent link: https://www.econbiz.de/10009745257

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