Статья посвящена вопросам определения стоимости оборудования в составе сметной документации и в актах выполненных работ. Авторами рассмотрены текущий...

This paper considers the question of tacit collusion in repeated auctions with independent private values. McAfee and McMillan show that the extent of collusion is limited by the availability of transfers. If no transfers are possible, the private information of bidders precludes any collusive...

The analysis is developed in the context of the "housemates problem," in which the rent for a house (the bad) must be apportioned among several housemates, each of whom is entitled to receive one room (the good). Each housemate is assumed to have the same endowment, so the auction of rooms is a...

В статье исследуются способы размещения заказов на поставки товаров, выполнение работ, оказание услуг для государственных и муниципальных нужд, приводится их...

This paper, forthcoming in Journal of Economic Surveys, provides an elementary non-technical, survey of auction theory, by introducing and describing some of the critical papers in the subject. (The most important of these are reproduced in a companion book, The Economic Theory of Auctions, Paul...

We present a model of the bid and ask quotes in the equity option market when option payoffs are asymmetrically distributed due to the limited liability of the option. We then provide empirical evidence for the actively-traded Chicago Board of Options Exchange stock options, which is consistent...

We study independent private value auctions where bidders have preferences over relative payoffs.

This paper empirically investigates the causes and immediate consequences of hostile takeovers in the U.S. over the 1990-1995 period. We find no indications of poor target performance over the five years prior to the takeover announcement. However, there is strong evidence that hostile takeovers...

This study investigates the behaviour of the components of the bid-ask spread around earnings announcements. We find that adverse selection cost component significantly increases surrounding the announcements while the inventory holding and order processing components significantly decline...