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The auctioning of frequency has to comply with a multitude of requirements in order to guarantee a transparent and efficient process. The German Federal Network Agency (Bundesnetzagentur) has opted for a design that provides participants with information on the highest bid after each round for...
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This paper shows that in online car auctions, resellers are better at appraising the value of the cars they are bidding on than are consumers. Using a unique data set of online car auctions, I show that differences in bidding behavior between resellers and consumers can be explained by...
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Motivated by pricing in ad exchange markets, we consider the problem of robust learning of reserve prices against ….e., buyers' preferences. The seller's goal is to design a learning policy to set reserve prices via observing the past sales data … untruthfully in order to manipulate the seller's learning policy. We propose learning policies that are robust to such strategic …
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Faster trading improves liquidity in periodic call auction markets, in contrast to continuous-timemarkets. We build a model where high-frequency traders (HFTs) engage in duels to trade onstale quotes. More frequent periodic auctions increase the likelihood that a single HFT arrives inany given...
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