Showing 1 - 10 of 5,066
information on the highest bid after each round for every band along with information on the bidder. We evaluate the price … formation efficiency in this setup to see how fast prices become informative about the final auction value. We find that prices … from their competitors' bidding behavior and validates the choice of the agency to implement the auction in the present …
Persistent link: https://www.econbiz.de/10012605864
This paper provides a structural empirical analysis of Dutch auctions of houseplants at the flower auction in Aalsmeer …, the Netherlands. The data set is unique for Dutch auctions in the sense that it includes observations of all losing bids … auction participants, and as such these data are collectible due to neurological constraints on information processing. The …
Persistent link: https://www.econbiz.de/10011372506
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...
Persistent link: https://www.econbiz.de/10001784609
procurement, quantity and price simultaneously. We then test this framework using information on lines that were auctioned and … compared to lines that were negotiated, and the procurement price is 25 percent lower on auctioned lines than on those with …
Persistent link: https://www.econbiz.de/10014178117
allocation rules (first- vs. second-price - auction vs. fair division game). The data analysis of the sealed-bid, private value …-contests compares the bid functions, some features of the bidding behavior as well as the efficiency rates and the price expectations in …
Persistent link: https://www.econbiz.de/10014121524
allocation rules (first- vs. second-price - auction vs. fair division game). The data analysis of the sealed-bid, private value …-contests compares the bid functions, some features of the bidding behavior as well as the efficiency rates and the price expectations in …
Persistent link: https://www.econbiz.de/10014123171
information on the highest bid after each round for every band along with information on the bidder. We evaluate the price … formation efficiency in this setup to see how fast prices become informative about the final auction value. We find that prices … from their competitors' bidding behaviour and validates the choice of the agency to implement the auction in the present …
Persistent link: https://www.econbiz.de/10014099837
We analyze pre and post-task confidence in an experiment in which subjects bid in multi-unit common value auctions. Subjects return for a second session, so we are able to assess how performance affects the evolution of confidence. Those with low confidence prior to the first session...
Persistent link: https://www.econbiz.de/10013090267
The second–generation GSM spectrum auction in Germany is probably the most clear cut example of a low price outcome in … a simultaneous ascending-bid auction. The present paper gives an account of the events, describes the auction rules and … market conditions, and provides a theoretical explanation of low price equilibria in simultaneous, ascending-bid auctions. In …
Persistent link: https://www.econbiz.de/10009613604
The third generation UMTS auction in Germany raised an enormous amount of revenue, and at the same time achieved a more … competitive market structure than other UMTS auctions in Europe. The present paper explains the design of that auction, and … presents a game theoretic explanation of observed events during the crucial phase of that auction, which have puzzled several …
Persistent link: https://www.econbiz.de/10009615427