Narrow search
Showing 1 - 10 of 1,130
Cover Image
Chapter 32 An Empirical Perspective on Auctions
Hendricks, Ken; Porter, Robert H. - In: Handbook of industrial organization : volume 3, (pp. 2073-2143). 2007
We describe the economics literature on auction markets, with an emphasis on the connection between theory, empirical practice, and public policy, and a discussion of outstanding issues. We describe some basic concepts, to highlight some strengths and weaknesses of the literature, and so...
Persistent link: https://www.econbiz.de/10014024584
Cover Image
Comparing open and sealed bid auctions : theory and evidence from timber auctions
Athey, Susan; Levin, Jonathan; Seira, Enrique - 2004
We study entry and bidding patterns in sealed bid and open auctions with heterogeneous bidders. Using data from U ….S. Forest Service timber auctions, we document a set of systematic effects of auction format: sealed bid auctions attract more … extends the theory of private value auctions with heterogeneous bidders to capture participation decisions, that can account …
Persistent link: https://www.econbiz.de/10011607074
Cover Image
Reserve price effects in auctions : estimates from multiple RD designs
Choi, Syngjoo; Nesheim, Lars; Rasul, Imran - 2010
We present evidence from 260,000 online auctions of second-hand cars to identify the impact of public reserve prices on … price than those of the average bidder, suggesting auction winners are not the marginal entrant. -- auctions ; regression …
Persistent link: https://www.econbiz.de/10008688876
Cover Image
Competition in treasury auctions
Elsinger, Helmut; Schmidt-Dengler, Philipp; Zulehner, … - 2016
We investigate the role of competition on the outcome of Austrian Treasury auctions. Austria's EU accession led to an … increase in the number of banks participating in treasury auctions. We use structural estimates of bidders' private values to …
Persistent link: https://www.econbiz.de/10011436067
Cover Image
Late and multiple bidding in second price Internet auctions : theory and evidence concerning different rules for ending an auction
Ockenfels, Axel; Roth, Alvin E. - 2003
In second price internet auctions with a fixed end time, such as those on eBay, many bidders snipe , i.e., they submit … their bids in the closing minutes or seconds of an auction. Late bids of this sort are much less frequent in auctions that … are automatically extended if a bid is submitted very late, as in auctions conducted on Amazon. We propose a model of …
Persistent link: https://www.econbiz.de/10011508091
Cover Image
Competition in treasury auctions
Elsinger, Helmut; Schmidt-Dengler, Philipp; Zulehner, … - 2016
We investigate the role of competition on the outcome of Austrian Treasury auctions. Austria's EU accession led to an … increase in the number of banks participating in treasury auctions. We use structural estimates of bidders' private values to …
Persistent link: https://www.econbiz.de/10011495132
Cover Image
Market Sentiments, Winner's Curse, and Bidding Outcomes in Land Auctions
Tse, K. S. Maurice - 2012
auctions of rights to develop residential real estate projects in Hong Kong. To do so, we deconstruct the complexity …
Persistent link: https://www.econbiz.de/10013115572
Cover Image
The Fragility of Discretionary Liquidity Provision : Lessons from the Collapse of the Auction Rate Securities Market
Han, Song - 2015
We study the fragility of discretionary liquidity provision by major financial intermediaries during systemic events. The laboratory of our study is the recent collapse of the auction rate securities (ARS) market. Using a comprehensive dataset constructed from auction reports and intraday...
Persistent link: https://www.econbiz.de/10013038246
Cover Image
Identification and Estimation of a Search Model : A Procurement Auction Approach
Myśliwski, Mateusz - 2017
We propose a non-sequential search model with a continuum of consumers and a finite number of firms. Both consumers and firms are heterogeneous. Consumers differ in search costs. Firms have private marginal costs of production. We show that an equilibrium price dispersion can arise in this model...
Persistent link: https://www.econbiz.de/10012956396
Cover Image
Informational Advantage in US Treasury Auctions
Tchuindjo, Leonard - 2019
We extend Wilson (1979) share auction framework to model the uniform-price US Treasury auction as a two-stage multiple leader-follower game. We then explicitly derive the primary dealer's (follower) strategic choice of bids as a function of its customer's (leader) bids and show that an increase...
Persistent link: https://www.econbiz.de/10012893365