Narrow search
Showing 1 - 10 of 689
Cover Image
Project modifications and bidding in highway procurement auctions
De Silva, Dakshina G.; Dunne, Timothy; Kosmopoulou, Georgia - 2015
This paper examines bidding behavior in a setting where post-bid-letting project modifications occur. These modifications change both the costs and payouts to the winning contractor, making the contract incomplete. Recent empirical research shows that bidders incorporate the likelihood of such...
Persistent link: https://www.econbiz.de/10011397241
Cover Image
Procurement Auctions for Differentiated Goods
Swarthout, J. Todd - 2011
under compensates for quality advantages, creating a market distortion in which the buyer captures surplus at the expense of …
Persistent link: https://www.econbiz.de/10013130629
Cover Image
Project Modifications and Bidding in Highway Procurement Auctions
De Silva, Dakshina G.; Dunne, Timothy; Kosmopoulou, Georgia - 2017
This paper examines bidding behavior in a setting where post-bid-letting project modifications occur. These modifications change both the costs and payouts to the winning contractor, making the contract incomplete. Recent empirical research shows that bidders incorporate the likelihood of such...
Persistent link: https://www.econbiz.de/10014048906
Cover Image
Wettbewerb als Entdeckungsverfahren
Schmidtchen, Dieter; Kirstein, Roland - 2001
as a classroom experiment. and show that competition is likely to discover the market equilibrium as well as the wealth …
Persistent link: https://www.econbiz.de/10010296959
Cover Image
Nonparametric Identification and Estimation of Multi-Unit, Sequential, Oral, Ascending-Price Auctions With Asymmetric Bidders
Paarsch, Harry J.; Brendstrup, Bjarne - 2004
Within the independent private-values paradigm, we derive the data-generating process of the winning bid for the last unit sold at multi-unit sequential English auctions when bidder valuations are draws from different distributions; i.e., in the presence of asymmetries. When the identity of the...
Persistent link: https://www.econbiz.de/10011324888
Cover Image
Competition in electricity spot markets : economic theory and international experience
Fehr, Nils-Henrik M. von der; Harbord, David Cameron - 1998
The main purpose of this survey paper is to consider the attempts that have been made to apply economic theory and empirical methods to the analysis of electricity markets, and to evaluate them in light of theoretical considerations and empirical evidence. We describe the key features of the...
Persistent link: https://www.econbiz.de/10011519038
Cover Image
Rationalizing the UMTS spectrum bids : the case of the UK auction
Boergers, Tilman; Dustmann, Christian - 2002
This paper considers bidder behaviour in the United Kingdom s UMTS spectrum auction. Evidence is reviewed which shows that some bidders in this auction did not bid straightforwardly in accordance with fixed valuations of the licenses. We go on to consider more speculative hypotheses about...
Persistent link: https://www.econbiz.de/10011409209
Cover Image
Identification and Estimation of Auction Model with Two-Dimensional Unobserved Heterogeneity
Krasnokutskaya, Elena - 2010
This paper investigates the empirical importance of allowing for multi-dimensional sources of unobserved heterogeneity in auction models with private information. It in turn develops the estimation procedure that recovers the distribution of private information in the presence of two distinct...
Persistent link: https://www.econbiz.de/10013136192
Cover Image
Auctioning Risk : The All-Pay Auction under Mean-Variance Preferences
Klose, Bettina S. - 2018
We analyse the all-pay auction with incomplete information and variance-averse bidders. We characterise the unique symmetric equilibrium for general distributions of valuations and any number of bidders. Variance aversion is a sufficient assumption to predict that high-valuation bidders increase...
Persistent link: https://www.econbiz.de/10012938629
Cover Image
Do Traders Learn to Select Efficient Market Institutions?
Alós-Ferrer, Carlos - 2020
When alternative market institutions are available, traders have to decide both where and how much to trade. We …, sellers trade off larger efficiency in a market with dwindling profits for biased-up profits in a market with vanishing … market institution if the distribution of the gains from trade is asymmetric. Trading behavior approaches equilibrium …
Persistent link: https://www.econbiz.de/10012823270