Showing 1 - 10 of 5,087
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
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/10013320885
negotiations with the incumbent. We analyze the effect of the procurement mode on service frequency and procurement price. Our … rail service, procurement price, and choice of procurement mode. Results indicate that, compared with negotiations …
Persistent link: https://www.econbiz.de/10013012482
by an adjusted auction strategy. The first-price auction can generate additional profits by placing a second, higher bid … transition. In this paper, we investigate the German pilot auction scheme for solar photovoltaics introduced in the Renewable … Energies Act 2014 (EEG 2104) that serves as a pilot for the auction-based promotion of the three major large-scale renewable …
Persistent link: https://www.econbiz.de/10012961494
We analyze a drastic price increase in the German auction market for reserve power, which did not appear to be driven … behavior in an environment with repeated auctions, pivotal suppliers and inelastic demand. The price increase can be traced … back to an abuse of the auction's pay-as-bid mechanism by the two largest firms. In contrast to theoretical findings, we …
Persistent link: https://www.econbiz.de/10013080623
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
German (and Austrian) UMTS auction. In particular, we discuss in detail the exposure problem that caused firms in Germany to …
Persistent link: https://www.econbiz.de/10013320600
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/10013320762
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