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. Finally, frameworks for auction-based and posted price request-exchange mechanisms are presented. All mechanisms are tested …
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interests that played a deci- sive role in the establishment of the auction mechanism. The article provides an analysis of the … formal and informal rules of the auction trade for real estate and argues that 19 th century real estate auctions did not … always lead to optimal re- sults in terms of valuation and allocation because power structures played a greater role in them …
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A distinguishing feature of the ECB's monetary policy setup is the preannouncement of a minimum bid rate in its weekly repo auctions. However, whenever interest rates are expected to decline, the minimum bid rate is viewed as too high and banks refrain from bidding, severely impeding the ECB's...
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